U.S. 4Q GDP Growth Holds at 3%

Reuters

U.S. 4Q GDP Growth Holds at 3%

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U.S. 4Q GDP Growth Holds at 3%

FBN’s Diane Macedo breaks down the stories moving the markets.

The economy expanded as expected in the fourth quarter while personal income grew at a much faster pace than previously thought, which should help underpin spending this quarter.

Gross domestic product increased at a 3.0 percent annual rate, the quickest pace since the second quarter of 2010, the Commerce Department

That was in line with economists' expectations. The economy grew at a 1.8 percent rate in the third quarter.

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However, personal income was $13.162 trillion at a seasonally adjusted annual rate, $3.3 billion more than previously reported. Disposable income was $10.6 billion more than previously thought, likely reflecting the strengthening labor market

Gross domestic income, which measures output from the income side, increased at a 4.4 percent rate - the fastest since the first quarter of 2010 - from a 2.6 percent rise in the third quarter.


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