The US Economy in 2017
According to the preliminary Q-4 numbers, the US economy grew 2.3% in 2017, up from 1.5% the previous year. Private consumption expanded 2.7%, identical to 2016’s revised figure, while capital investment reversed the previous year’s 1.6% decline to grow by 3.2%.
Inflation, as measured by the personal consumption deflator, averaged 1.7%, up a half point from 2016 and the highest level since 2012. The consumer price index rose 2.1%, after rising 1.3% in 2016. Unemployment averaged 4.4% during the year.
Growth in the fourth quarter was 2.5% year-on-year, up from 2.3% in Q-3. On a quarter-to-quarter annualized basis, however, it was down from 3.2% in July-September, to 2.6% in the final three months of the ear.
According to the preliminary Q-4 numbers, the US economy grew 2.3% in 2017, up from 1.5% the previous year. Private consumption expanded 2.7%, identical to 2016’s revised figure, while capital investment reversed the previous year’s 1.6% decline to grow by 3.2%.
Inflation, as measured by the personal consumption deflator, averaged 1.7%, up a half point from 2016 and the highest level since 2012. The consumer price index rose 2.1%, after rising 1.3% in 2016. Unemployment averaged 4.4% during the year.
Growth in the fourth quarter was 2.5% year-on-year, up from 2.3% in Q-3. On a quarter-to-quarter annualized basis, however, it was down from 3.2% in July-September, to 2.6% in the final three months of the ear.
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