US Q4 GDP growth revised lower to 3.2% from 3.3%
- US GDP growth for Q4 is revised lower to 3.2% from 3.3%.
- US Dollar Index stays in positive territory above 104.00.
The United States' Gross Domestic Product (GDP) grew at an annual rate of 3.2% in the fourth quarter, the US Bureau of Economic Analysis (BEA) said in its second estimate on Wednesday. The BEA reported in its advanced estimate the real GDP growth was 3.3%.
"The update primarily reflected a downward revision to private inventory investment that was partly offset by upward revisions to state and local government spending and consumer spending," the BEA explained in the press release.
Market reaction
The US Dollar Index (DXY) edged slightly lower with the immediate reaction and was last seen rising 0.26% on the day at 104.07.
Author
Eren Sengezer
FXStreet
As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.
