CEPRES Releases Q4 Market Outlook Report News provided by Share this article Share this article NEW YORK, March 4, 2021 /PRNewswire/ -- The latest CEPRES Private Capital Market Outlook highlights the impacts of COVID-19 and offers an economic review of 2020, an analysis of the last quarter of the year, and insights for 2021. Private Markets Median Deal Gross IRR The 4% GDP expansion in Q4 was driven by increases in consumer spending, exports, non-residential fixed investment, residential investment, and inventories. However, GDP expansion was still weighed down by declines in government spending at the federal, state, and local levels. Specifically, consumer spending increased by 2.5%, exports rose by 22% and gross private domestic investment surged by 25.3% while government spending contracted by 1.2% that was primarily due to an 8.4% decline in non-defense spending.