Franchise News
CNBC: Final Reading on U.S. Q4 GDP Is Up 2.9%, vs. 2.7% Growth Expected
Consumer spending experienced its biggest gain in three years.
The U.S. Commerce Department is revising the Q4 economic estimates that were previously reported. According to CNBC, economic growth slowed less than previously estimated, with the country experiencing the biggest gain in consumer spending in three years.
GDP expanded at a 2.9 percent annual rate in the final three months of 2017, which is an improvement over the 2.5 percent previously reported. The government also reported that after-tax corporate profits jumped by 1.7 percent in Q4, and that growth of consumer spending grew at a 4 percent pace. That consumer spending accounts for more than two-thirds of U.S. economic activity, signaling to businesses and franchises that people are actively participating in the marketplace.
On that growth, CNBC reports, “That was the quickest pace since the fourth quarter of 2014 and followed a 2.2 percent rate of growth in the July-September period.”
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About the Author
Cassidy McAloon
FollowCassie has over five years of digital and traditional media experience. She joined NLA after working as a television news producer in both Milwaukee and Chicago, and now specializes in aligning strategies across the board for her clients, ultimately building buzz and telling compelling stories through content marketing, social media, digital campaigns and traditional PR.
Cassie has a Bachelor of Arts in Broadcast and Electronic Communications from Marquette University. In her spare time, Cassie enjoys traveling and exploring what new cities have to offer in addition to spending time with her friends and family.
