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U.S. GDP Spikes More Than Expected In Q4

Preliminary data released by the Commerce Department on Thursday showed a sharp increase in U.S. economic activity in the fourth quarter of 2021.

The report said real gross domestic product spiked by 6.9 percent in the fourth quarter after jumping by 2.3 percent in the third quarter. Economists had expected GDP to surge up by 5.5 percent.

The Commerce Department said the stronger than expected GDP growth reflected increases in private inventory investment, exports, consumer spending and nonresidential fixed investment.

Decreases in both federal and state and local government spending somewhat limited the upside along with an increase in imports, which are a subtraction in the calculation of GDP.

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