The United States economy fared slightly better in the fourth quarter than initially reported, according to the “second estimate” from the Department of Commerce’s Bureau of Economic Statistics.
The United States economy grew 1 percent in the fourth quarter of 2015, according to the “second estimate” from the Department of Commerce’s Bureau of Economic Statistics released on Friday. The Commerce Department previously said Gross Domestic Product, the broadest measure of economic activity, grew 0.7 percent for the quarter.
The new estimate is based on more complete data.
In the third quarter, the United States achieved 2 percent productivity.
One reason for the fourth quarter adjustment was that private inventory investment decreased less than previously thought. But decreases in exports and consumer spending contributed to the drop between the second and third quarters, Commerce said.
U.S. GDP grows 1% in Q4 2015
