Changes

Real gross domestic product The Bureau emphasized that the fourth-- the value of the goods and services produced quarter advance estimate released today is based on source data that are incomplete or subject to further revision by the nation’seconomy less the value of source agency (see the goods box on page 4 and services used up in production, adjusted for pricechanges -- increased at an annual rate "Comparisons of 0Revisions to GDP" on page 5).7 percent in The "second" estimate for the fourth quarter of 2015, according to the"advance" estimate based on more complete data, will be released by the Bureau of Economic Analysis. In the third quarteron February 26, real GDPincreased 2.0 percent2016.

The Bureau emphasized that increase in real GDP in the fourth-quarter advance estimate released today is based onsource data primarily reflected positive contributions from personal consumption expenditures (PCE), residential fixed investment, and federal government spending that were partly offset by negative contributions from private inventory investment, exports, and nonresidential fixed investment. Imports, which are incomplete or subject to further revision by the source agency (see a subtraction in the box on page 4and "Comparisons calculation of Revisions to GDP" on page 5). The "second" estimate for the fourth quarter, basedon more complete data, will be released on February 26, 2016increased.

The increase in real GDP in the fourth quarter primarily reflected positive contributions frompersonal consumption expenditures (PCE), residential fixed investment, and federal governmentspending that were partly offset by negative contributions from private inventory investment, exports,and nonresidential fixed investment. Imports, which are a subtraction in the calculation of GDP,increased.  The deceleration in real GDP in the fourth quarter primarily reflected a deceleration in PCE anddownturns in nonresidential fixed investment, in exports, and in state and local government spendingthat were partly offset by a smaller decrease in private inventory investment, a deceleration in imports,and an acceleration in federal government spending.  Real gross domestic purchases -- purchases by U.S. residents of goods and services whereverproduced -- increased 1.1 percent in the fourth quarter, compared with an increase of 2.2 percent in thethird.