Expectations were running particularly high on this number — analysts were forecasting US growth to have picked by 4.6 per cent in the fourth quarter on an annualised basis, up from 2.2 per cent in the third.
Well the US Bureau of Economic Analysis has now confirmed the number was even better than that — coming in at 5.7 per cent in the quarter.
The deflator registered at 0.6 per cent, while the PCE index came in at 2.7 per cent.
Here are the flashes from Reuters:
RTRS-US ADVANCE Q4 GDP +5.7 PCT (CONSENSUS +4.6), Q3 +2.2 PCT; FINAL SALES +2.2 PCT (CONS +1.6), Q3 +1.5 PCT
13:30 29Jan10 RTRS-US ADVANCE Q4 GDP DEFLATOR +0.6 PCT (CONS +1.3) VS Q3 +0.4 PCT
13:30 29Jan10 RTRS-US Q4 PCE PRICE INDEX +2.7 PCT (CONS +2.6), Q3 +2.6 PCT; CORE PCE +1.4 PCT (CONS +1.3), Q3 +1.2 PCT
13:30 29Jan10 RTRS-US Q4 CONSUMER SPENDING +2.0 PCT (Q3 +2.8 PCT), DURABLES -0.9 PCT (Q3 +20.4 PCT)
13:30 29Jan10 RTRS-US Q4 MARKET-BASED PCE PRICE INDEX +2.7 PCT (Q3 +2.8 PCT), CORE +1.1 PCT (Q3 +1.2 PCT)
13:30 29Jan10 RTRS-US Q4 BUSINESS INVESTMENT +2.9 PCT (Q3 -5.9 PCT), EQUIPMENT/SOFTWARE +13.3 PCT (Q3 +1.5 PCT)
13:30 29Jan10 RTRS-US Q4 HOME INVESTMENT +5.7 PCT (Q3 +18.9 PCT), BUS. INVESTMENT IN STRUCTURES -15.4 PCT (Q3 -18.4 PCT)
13:30 29Jan10 RTRS-US Q4 EXPORTS +18.1 PCT (Q3 +17.8 PCT), IMPORTS +10.5 PCT (Q3 +21.3 PCT)
13:30 29Jan10 RTRS-US Q4 GDP EX MOTOR VEHICLES +5.2 PCT (Q3 +0.8 PCT)
13:30 29Jan10 RTRS-US Q4 YEAR-ON-YEAR PCE PRICE INDEX +1.3 PCT (Q3 -0.7 PCT), CORE PCE +1.4 PCT (Q3 +1.3 PCT)
13:30 29Jan10 RTRS-US Q4 BUSINESS INVENTORY CHANGE -$33.5 BLN, ADDS 3.39 PERCENTAGE POINT TO GDP CHANGE (Q3 -$139.2 BLN)
13:30 29Jan10 RTRS-US 2009 GDP -2.4 PCT, FIRST DECLINE SINCE 1991 (-0.2 PCT), BIGGEST DECLINE SINCE 1946
13:30 29Jan10 RTRS-US Q4 GDP RISE LARGEST SINCE Q3 2003 (+6.9 PCT)
13:30 29Jan10 RTRS-TABLE-U.S. Q4 GDP rose 5.7 pct
Related links:
On outperforming the US Bureau of Economic Analysis – FT Alphaville
US returns to growth with 3.5% rise in Q3 GDP – FT Alphaville