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Gross Domestic Product, Fourth Quarter and Year 2021 Estimate Released

Thu, January 27, 2022 11:49 AM | Anonymous member (Administrator)

The U.S. Bureau of Economic Analysis (BEA) has reported that real gross domestic product (GDP) increased at an annual rate of 6.9 percent in the fourth quarter of 2021 (advanced estimate), following an increase of 2.3 percent in the third quarter.  The acceleration in the fourth quarter (which can be considered partly in light of inflationary pressures) was led by an upturn in exports as well as accelerations in inventory investment and consumer spending.  Counter that COVID-19 cases resulted in continued restrictions and disruptions in the operations of establishments in some parts of the country.  Government assistance payments in the form of forgivable loans to businesses, grants to state and local governments, and social benefits to households all decreased as provisions of several federal programs expired or tapered off.

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