- First reading was -1.4%
- Q4 final was 6.9% annualized
- Personal consumption +3.1% vs +2.7% advance
- Core PCE +5.1% vs +5.2% expected
- Deflator +8.1% vs +8.0% expected
- Full report
Details:
- Net trade -3.23 pp vs of cut 3.2 pp from growth in advance
- Inventories cut -1.09 pp from GDP vs -0.84 pp in advance report
- Home investment +0.02 pp vs -0.03 pp in advance report
- Personal consumption +2.09 vs +1.83 pp advance
- Gross private domestic investment +0.10 pp vs +0.43 pp in advance
- Government spending -0.47 pp vs -0.48 pp in advance
Inflation was a bit more of a drag and so was gross private investment, largely as a result of more inventory building.