GDP Rose 0.6% YOY in Q4 2016

GDP Rose 0.6% YOY in Q4 2016

Real gross domestic product (GDP) rose 0.6% in the fourth quarter, following a 0.9% increase in the third quarter. Final domestic demand continued to decelerate (+0.1%), with ongoing weakness in business investment. Investment in housing increased 1.2%. Businesses reduced their inventories by $5.0 billion in the fourth quarter, after accumulating $7.4 billion in the third quarter. Manufacturing inventories were drawn down by $6.9 billion.