The economy in the U.S. expanded at a slower pace than forecast in the fourth quarter as cooling business investment, a slump in government outlays and a widening trade gap took some of the luster off the biggest gain in consumer spending in almost nine years.The tepid Obama recovery can't put up consistent GDP growth numbers of 3% a quarter. Just a reminder.
Gross domestic product grew at a 2.6 percent annualized rate after a 5 percent gain in the third quarter that was the fastest since 2003, Commerce Department figures showed Thursday in Washington. The median forecast of 85 economists surveyed by Bloomberg called for a 3 percent advance. Consumer spending, which accounts for almost 70 percent of the economy, climbed 4.3 percent, more than projected.
Friday, January 30, 2015
Only 2.6% : U.S. Economy Expanded Less Than Forecast in Fourth Quarter
Bloomberg reports: