US Q4 Growth Revised Upward to 2.1% in Final Estimate

The US economy grew faster than initially estimated in the final months of 2016, according to the latest official figures.

The economy grew at an annualised pace of 2.1% in the fourth quarter of the year, the Commerce Department said, up from an earlier estimate of 1.9%.

However, the revision did not alter the growth rate for the whole of 2016, which remained at 1.6%.
Last year’s growth rate was the slowest since 2011.

The upward revision for the final three months of 2016 was partly due to stronger consumer spending.
However, the revised growth rate for the quarter was still a marked slowdown from the 3.5% annual rate achieved in the previous three months.

President Donald Trump has promised to lift GDP growth to 4%, through tax cuts and infrastructure spending.
The last time that America’s economy grew at that rate was in 2000, the year of the dotcom boom, when it expanded by 4.1%.

via BBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza