Personal consumption expenditure (PCE) contributed 2.4 percentage points to growth (2.05 percent in the second estimate) and rose 3.5 percent (3 percent in the second estimate). Spending increased more than anticipated for nondurable goods (3.3 percent compared to 2.8 percent) and services (2.4 percent compared to 1.8 percent) but rose slightly less for durable goods (11.4 percent compared to 11.5 percent).
Fixed investment added 0.46 percentage points to growth (0.51 percentage points in the second estimate) and increased 2.9 percent, compared to a 3.2 percent expansion in the previous release. Investment rose less for intellectual property products (1.3 percent compared to 4.5 percent); growth was steady for equipment (1.9 percent) and residential (9.6 percent). Investment in structures fell at a slower 1.9 percent (-4.5 percent).
Private inventories added 1.01 percentage points to growth, above 0.94 percentage points in the second estimate. It is the biggest contribution since the first quarter of 2015.
Meanwhile, exports shrank 4.5 percent (-4 percent in the second estimate) and imports jumped 9 percent (8.5 percent), bringing the impact from trade to -1.82 percent (-1.7 percent in the second estimate).
Government spending and investment added 0.03 percentage points to growth (0.06 percent in the previous release) and rose 0.2 percent (0.4 percent in the preliminary estimates).
Considering full 2016, private investment slumped for the first time since 2009 (-1.6 percent, the same as in the second estimate), dragged down by structures (-2.9 percent from -3 percent) and equipment (-2.9 percent). Consumer spending rose 2.7 percent, the same as in earlier estimates and public spending and investment increased 0.8 percent, unchanged form earlier estimates. Exports went up 0.4 percent and imports rose 1.2 percent (1.1 percent in the second estimate).