The downward revision to the Q4 GDP growth estimate largely reflected a smaller inventory build than previously reported. The downward revision to the fourth-quarter GDP growth estimate largely reflected a smaller inventory build than previously reported. GDP growth estimates for the first three months of the year are as low as a 1.8% rate. Imports SurgeBut companies failed to produce enough to meet the burst in consumer spending, resulting in a surge in imports that subtracted from GDP growth. As a result, inventories subtracted 0.70 percentage point from GDP growth after adding 0.79 percentage point in the prior period.

Source: Mint February 28, 2018 14:40 UTC