Economic Growth Cools as American Consumers Temper Spending

January 29, 2016 1:31 PM

23 0

The U.S. economy expanded at a slower pace in the fourth quarter as households tempered spending and businesses cut back on capital investment and adjusted inventories.

Gross domestic product rose at a 0.7 percent annualized rate in the three months ended in December after a 2 percent gain in the third quarter, Commerce Department figures showed Friday. The advance was in line with the Bloomberg survey median forecast of 0.8 percent.

Also read: U.S. economy creates 178,000 jobs in November; jobless rate drops to 4.6%

Read more

To category page

Loading...