The U.S. Department of Commerce’s Bureau of Economic Analysis released their latest estimates for the nation’s Gross Domestic Product (GDP) in fourth quarter 2015. Calling it their “third estimate,” the Bureau said that real GDP grew by 1.4% in the fourth quarter on an annual rate. This was down slightly from the third quarter when real GDP increased by 2.0%. The additional increase to the third estimate was attributed to the unanticipated rise in personal consumption expenditures.
The price index for gross domestic purchases grew minimally in the fourth quarter by 0.4% when including food and energy prices paid by U.S. residents. In the third quarter, the price index for gross domestic purchases grew 1.3%. Without accounting for food and energy prices, the price index rose by 1.0%.
Source: U.S. Bureau of Economic Analysis, “National Income and Product Accounts Gross Domestic Product: Fourth Quarter and Annual 2015 (Third Estimate) Corporate Profits: Fourth Quarter and Annual 2015,” news release (March 25, 2016), http://www.bea.gov/newsreleases/national/gdp/2016/gdp4q15_3rd.htm.