The Strategist

US Department of Commerce estimates the country's GDP in Q4

01/28/2022 - 08:59

US GDP in the fourth quarter of 2021, according to the first estimate, grew by 6.9% year-on-year (if GDP had grown at the same rate for four consecutive quarters), according to a press release from the US Commerce Department's Bureau of Economic Analysis.

Analysts polled by DailyFX had expected the US economy to grow by 5.5% on a year-on-year basis.

Real growth in US consumer spending rose 3.3% in the period under review, according to the first estimate, after an increase of 2% in the third quarter.

On an annualised basis, i.e. year-on-year, the US economy grew by 5.5% last quarter.

In the third quarter last year, US GDP rose by 2.3% year-on-year and by 4.9% compared to the same period the previous year.

US GDP figures are published monthly by the Bureau of Economic Analysis in both nominal and real (inflation-adjusted) prices. The quarterly GDP report is first published at the end of the month following each quarter, after which the initial estimate is revised twice.