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Highlights of U.S. Economic Growth in 2014

Photo of Under Secretary Mark Doms on a conference call.Today, I joined Standard and Poor's Chief Economist Beth Ann Bovino to discuss this morning's 2014 Q4 GDP Advance Estimate, which came in at 2.6%. Business Forward hosted the call with a live national audience of more than 150 business leaders and leading economic reporters from across the country.

While the numbers today were not as strong as what occurred in Q2 and Q3 of 2014, overall growth last year was the highest we've seen since 2010.  Most domestic industries posted gains, and consumer spending was the strongest we've seen in nine years.  Those figures are reflected in two critical measures of consumer sentiment – the University of Michigan's consumer sentiment index and the Conference Board's consumer confidence index – which both reached their highest levels since 2008. Bottom line: our economy is growing at a moderate, sustained pace and America continues to be the best place in the world to invest.

See the numbers in the attached slides below.

Mark Doms, Under Secretary for Economic Affairs, U.S. Department of Commerce


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