the staff of the Ridgewood blog
Washington DC, Real gross domestic product(GDP) increased at an annual rate of 6.9 percent in the fourth quarter of 2021 , according to the “advance” estimate released by the Bureau of Economic Analysis. In the
third quarter, real GDP increased2.3 percent.
The GDP estimate released today is based on source data that are incomplete or subject to further revision by the source agency (refer to “Source Data for the Advance Estimate” . The “second”
estimate for the fourth quarter, based on more complete data, will be released on February 24, 2022.
The increase in real GDP primarily reflected increases in private inventory investment, exports, personal consumption expenditures (PCE), and nonresidential fixed investment that were partly offset by
decreases in both federal and state and local government spending. Imports, which are a subtraction in the calculation of GDP, increased