Increase in real GDP in the fourth quarter

03 Mar '08

3 min read

The price index for gross domestic purchases, which measures prices paid by U.S. residents, increased 3.9 percent in the fourth quarter, 0.1 percentage point more than in the advance estimate; this index increased 1.8 percent in the third quarter. Excluding food and energy prices, the price index for gross domestic purchases increased 2.5 percent in the fourth quarter, compared with an increase of 1.9 percent in the third.

Real personal consumption expenditures increased 1.9 percent in the fourth quarter, compared with an increase of 2.8 percent in the third. Real nonresidential fixed investment increased 6.9 percent, compared with an increase of 9.3 percent.

Nonresidential structures increased 14.7 percent, compared with an increase of 16.4 percent. Equipment and software increased 3.3 percent, compared with an increase of 6.2 percent. Real residential fixed investment decreased 25.2 percent, compared with a decrease of 20.5 percent.

Real exports of goods and services increased 4.8 percent in the fourth quarter, compared with an increase of 19.1 percent in the third. Real imports of goods and services decreased 1.9 percent, in contrast to an increase of 4.4 percent.

Real federal government consumption expenditures and gross investment increased 0.9 percent in the fourth quarter, compared with an increase of 7.1 percent in the third. National defense decreased 0.3 percent, in contrast to an increase of 10.1 percent.

Nondefense increased 3.4 percent, compared with an increase of 1.1 percent. Real state and local government consumption expenditures and gross investment increased 3.0 percent, compared with an increase of 1.9 percent.

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Bureau of Economic Analysis

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