Xinhua News Agency, Washington, February 27th (Reporter Xu Yuan) The revised data released by the U.S. Department of Commerce on the 27th showed that the gross domestic product (GDP) of the United States grew at an annual rate of 2.1% in the fourth quarter of last year. It was also unchanged from the previous quarter.
Data show that in the fourth quarter of last year, personal consumption, which accounted for about 70% of the total US economy, increased by 1.7%, driving the current quarter's economic growth by 1.17 percentage points; net exports boosted the economic growth by 1.53 percentage points; but non-residential companies that reflect the investment status of enterprises Investment in fixed assets fell by 2.3% from the previous quarter, dragging down economic growth for the quarter by 0.31 percentage points.
The US Department of Commerce usually makes three estimates of quarterly GDP data based on continuously improving information. The Ministry of Commerce will announce the final revised GDP for the fourth quarter of last year on March 26.