Eurostatistics. Data for short-term economic analysis : Issue number 3/2017

The second estimate of the BEA left unchanged the annual GDP growth rate of the US at 1.9 % in Q4 2016, decelerating from 3.5 % in Q3. The slow-down in GDP growth in Q4 2016 reflected a decline in exports, an acceleration in imports, and a downturn in federal government expenditure, partially compensated by an increase in residential fixed investment, an acceleration in private inventory investment, and an increase in state and local government expenditure. Regarding the BRICS countries (Brazil, Russia, India, China and South Africa), in China the quarterly GDP growth rate was 1.7 % in Q4 2016 slightly declining from 1.8 % in Q3. The annual GDP growth rate was 6.8 % in Q4 2016, up from 6.7 % in Q3 but down from 7.2 % in Q4 2014. While GDP growth is lower in China, GDP growth remains strong in India. India was Asia’s fastest growing large economy with an annual GDP growth rate of 7.2 % in Q4 2016, stable compared to Q3 but up from 7.0 % in Q4 2014. Nevertheless, quarterly GDP growth declined in India with a rate of 1.6 % in Q4 2016 after 1.8 % in Q3. South Africa declared a quarterly GDP growth rate nil in Q4 2016 down from 0.1 % in Q3. The annual GDP growth declined to 0.5 % in Q4 2016 after 1.0 % in Q3. The economy contracted in Brazil with a quarterly GDP growth rate of – 0.9 % in Q4 2016 after – 0.7 % in Q3. The annual GDP growth rate was – 2.5 % in Q4 2016 from – 2.8 % in Q3. Russia will only release later its GDP growth rate for Q4 2016. According to the Federal Statistics State Service (Rosstat), annual GDP growth was – 0.4 % in Q3 2016, after – 0.6 % in Q2