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Source: US Department of Commerce Source: US Department of Commerce <br />3/21 6/21 9/21 12/21 <br />7.4% 7.9% 1.4% 1.8% <br />-0.4% -0.7% 2.1% 5.8% <br />-1.6% -0.2% -1.3% -0.2% <br />0.8% -0.4% -0.4% -0.3% <br />0.0% 0.0% 0.5% -0.2% <br />6.3% 6.7% 2.3% 6.9% <br />Gross Private Domestic Investment <br />Personal Consumption Expenditures <br />Components of GDP <br />Federal Government Expenditures <br />State and Local (Consumption and Gross <br />Investment) <br />Net Exports and Imports <br />Total <br />-35.0% <br />-30.0% <br />-25.0% <br />-20.0% <br />-15.0% <br />-10.0% <br />-5.0% <br />0.0% <br />5.0% <br />10.0% <br />15.0% <br />20.0% <br />25.0% <br />30.0% <br />35.0% <br />Gross Domestic Product (GDP) <br />GDP QOQ % Change <br />GDP YOY % Change <br />Gross Domestic Product (GDP) <br />According to the third estimate,fourth quarter GDP grew at an annualized rate of 6.9%,revised slightly downward from the second estimate of <br />7.0%.Economic growth reaccelerated in the fourth quarter after slowing to a pace of 2.3%growth in the third quarter,bringing overall GDP <br />growth for 2021 to 5.7%.The most significant contributor to fourth quarter growth was inventory build,potentially reflecting some easing in <br />supply chain disruptions.The fourth-quarter's build will make for a tough comparison in the first quarter.The consensus estimate calls for 1.1% <br />GDP growth in the first quarter, 3.0% growth in the current quarter, and 3.3% growth for 2022. <br />10