Real gross domestic product increased at a seasonally adjusted annual rate of 2.2% in the fourth quarter of 2014, the U.S. BEA published this morning. This was the third estimate for Q4, and the headline figure is essentially unchanged from the prior estimate. The GDP growth rate in Q3 was 5.0% annualized.

Components of GDP by their contributions to GDP growth in Q4:

- Personal consumption expenditures: +2.98%
- Private investment: +0.61%
- Net Exports: -1.03%
- Government Consumption: -0.35%

Nominal GDP was at an annualized $17.7037 trillion in Q4, while real (inflation adjusted, 2009 chained) GDP was $16.2947 trillion.

Real GDP was up 2.4% from Q4 2013.