US: Annual GDP expanded 2.1% in Q4 (first estimate) as expected
- US economy is seen expanding by 2.1% in Q4.
- US Dollar Index stays in negative territory below 98.
Real Gross Domestic Product (GDP) in the US is expected to grow by 2.1% at an annual rate in the fourth quarter of 2019, the first estimate published by the US Bureau of Economic Analysis showed on Thursday. This reading matched the third quarter's growth rate and the market expectation.
The US Dollar Index largely ignored the data and was last down 0.16% on a daily basis at 97.90.
"The increase in real GDP in the fourth quarter reflected positive contributions from personal consumption expenditures (PCE), federal government spending, state and local government spending, residential fixed investment, and exports, that were partly offset by negative contributions from private inventory investment and nonresidential fixed investment."
"Imports, which are a subtraction in the calculation of GDP, decreased."