Advance Estimate of GDP for the Fourth Quarter of 2015

 Jason Furman

WASHINGTON, DC – Jason Furman, Chairman of the Council of Economic Advisers, issued the following statement today on the advance estimate of Gross Domestic Product (GDP) for the fourth quarter of 2015.  

The economy continued to expand in the fourth quarter, but at a slower pace than in the third. Overall, the most stable and persistent components of output—personal consumption and business investment—rose a solid 2.7 percent over the four quarters of 2015. Weaker foreign growth continued to weigh on domestic output in the fourth quarter, underscoring the importance of policies that open our exports to new markets while promoting strong domestic demand. There is more work to do, and the President is committed to policies that will boost our long-run growth and help ensure everyone shares in it: including through high-standards free trade agreements like the Trans-Pacific Partnership, increasing investments in infrastructure, and raising the minimum wage.

You can read the complete statement here. 

Source: The White House, Office of the Press Secretary