Revised 4th Quarter GDP Growth Bests Expectations, With 2.9% Revised 4th Quarter GDP Growth Bests Expectations, With 2.9% – NTK Network

Revised 4th Quarter GDP Growth Bests Expectations, With 2.9%

Experts originally predicted growth of 2.7 percent, and estimated 2.5 percent growth at the end of the year, but the economy actually grew by almost three percent.

By NTK Staff | 03.28.2018 @6:00pm
Revised 4th Quarter GDP Growth Bests Expectations, With 2.9%

Revised economic analysis from the fourth quarter of 2017 indicates that American GDP growth actually smashed expectations, contrary to prior reports that it fell short, CNBC reports.

Experts originally predicted 2.7-percent growth, and, following the quarter, they reported the economy lagged behind that mark with 2.5-percent growth.

But a new revision from the fourth quarter indicates that the U.S. economy actually beat expectations, nearly reaching the three-percent mark, according to CNBC:

Gross domestic product expanded at a 2.9 percent annual rate in the final three months of 2017, instead of the previously reported 2.5 percent, the Commerce Department said in its third GDP estimate for the period on Wednesday. That was a slight moderation from the third quarter’s brisk 3.2 percent pace.

The upward revision to the fourth-quarter growth estimate also reflected less inventory reduction than previously reported. Economists polled by Reuters had expected that fourth-quarter GDP growth would be revised up to a 2.7 percent rate. The economy grew 2.3 percent in 2017, an acceleration from the 1.5 percent logged in 2016.

While the rising GDP growth is welcome news in the United States, the Trump administration may not be satisfied. The president has expressed hope that the economy can grow as fast as six percent.

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