The Bureau of Economic Analysis has announced that 4th Quarter 2014 Real GDP numbers continued to grow in positive fashion with an estimated increase of 2.6% after a Q3 (2014) increase of 5%. The Bureau emphasized that this 4th Quarter increase is merely an “estimate” based on extensive but incomplete data with a updated estimate expected on February 27, 2015. The BEA announced that the slowdown in GDP growth from Q3 to Q4 in 2014 was partly attributed to an uptick in imports vs. exports, a reduction in government spending and a downtick in nonresidential fixed investments. The chart below shows the growth in Real GDP over a 5 year period.
As stated above, although Q4 saw positive growth, the percent change from Q3 to Q4, 2014 was a decline of 2.4%. The graph below shows the quarterly percent change from F.Y. 2007 through 2014.
*All data and info was obtained from the U.S. Department Of Commerce’s Bureau of Economic Development and can be obtained at: http://www.bea.gov