The final estimate of 1999:IVQ real GDP growth is 7.3%, up 0.4 percentage point from February’s 6.9% estimate, itself revised up 1.1 percentage points from January’s advance estimate. The dominant factors in the revision were lower imports, higher exports, and stronger investment in nonresidential structures. Blue Chip forecasters continue to expect that this year’s economic growth will return to rates more consistent with past experience.
Suggested citation: "Economic Activity," Federal Reserve Bank of Cleveland, Economic Trends, no. 00-04, pp. 09-10, 04.01.2000.