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MNI: US 4Q GDP 3.2%, PCE Inflation Revised Up

(MNI) WASHINGTON
USDataPolicy NewsHomepageData BriefData StoriesBriefStoryRegionNorth America

U.S. headline and core PCE inflation for the fourth quarter were revised a tenth higher to 1.8% and 2.1%, and GDP growth was revised down a tenth to 3.2%, the Bureau of Economic Analysis said Wednesday in its second estimate of GDP.

The revisions lifted headline PCE inflation to 2.8% on a 4Q/4Q basis while core inflation stayed at 3.2%. Wednesday's update saw 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 said. (See: MNI INTERVIEW: Lagging Fed To Cut 100BP This Year-LaVorgna)

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U.S. headline and core PCE inflation for the fourth quarter were revised a tenth higher to 1.8% and 2.1%, and GDP growth was revised down a tenth to 3.2%, the Bureau of Economic Analysis said Wednesday in its second estimate of GDP.

The revisions lifted headline PCE inflation to 2.8% on a 4Q/4Q basis while core inflation stayed at 3.2%. Wednesday's update saw 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 said. (See: MNI INTERVIEW: Lagging Fed To Cut 100BP This Year-LaVorgna)