Real gross domestic product—the output of goods and services produced by labor and property located in the U.S.—increased at an annualized rate of 4.1% in the fourth quarter of 2003, according to final estimates recently released by the Bureau of Economic Analysis. The estimate of fourth-quarter growth in GDP itself matches last month’s preliminary estimate. Blue Chip forecasts of output growth in the first quarter of 2004 were revised slightly downward in March, from 4.5% to 4.4%.
Suggested citation: "Economic Activity," Federal Reserve Bank of Cleveland, Economic Trends, no. 04-04, pp. 10, 04.01.2004.