In like a lamb, out like a lion. According to advance estimates, real GDP grew an exceptionally fast 4.7% in 1996:IVQ, with gains in exports and personal consumption expenditures leading the way. Inventory accumulation slowed slightly. Last quarter's growth rate compares with 2.1% in 1996:IQ, 4.7% in 1996:IIQ, and 2.0% in 1996:IQ. The fourth-quarter figure, however, is subject to revision as more complete data become available.
Suggested citation: “Economic Activity,” Federal Reserve Bank of Cleveland, Economic Trends, no. 97-02, pp. 08-09, 02.01.1997.