FXstreet.com (Barcelona) - Gross Domestic Product has grown at a sharply slower pace in the last quarter of the year if compared to the previous three months, and sharply below the expectations, according to the advanced estimations published by the Bureau of Economic Analysis.
From October to December, US GDP grew at a 0,6% pace, instead of the 1.2% forecasted by the analysts. This increase reflects a serious slowdown from the previous quarter which posted a 4.9% increase.
Te fourth quarter's GDP reflects positive contributions from personal consumption expenditures (PCE), nonresidential structures, state and local government spending, exports, and equipment and software, although most of these contributions have been offset by negative readings on private inventory investment and residential fixed investment. Imports, which are a substraction to the GDP estimation have posted a slight increase.