1/27, 2:30 PM (Source: TeleTrader)
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US GDP up by 6.9% in Q4

The gross domestic product (GDP) of the United States went up at an annualized rate of 6.9% in the fourth quarter of the year, above market estimates, the US Bureau of Economic Analysis revealed in its first preliminary report published on Thursday.

The figure represents a significant rise in comparison to the growth of 2.3% recorded in the third trimester. The report linked the increase to expansions in "private inventory investment, exports, personal consumption expenditures (PCE), and nonresidential fixed investment."

The Bureau of Economic Analysis will publish the second advance report on the matter on February 4.

Baha Breaking News (BBN) / JR