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U.S. Economic Growth Slows
America’s gross domestic product grew by an annualized 0.7% in the fourth quarter of 2015, down sharply from 2% in July-September and 3.9% in April-June, according to an initial analysis by the US.
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America’s gross domestic product grew by an annualized 0.7% in the fourth quarter of 2015, down sharply from 2% in July-September and 3.9% in April-June, according to an initial analysis by the US. Dept. of Commerce.
The Commerce Dept. blames the slowdown on a decline in personal spending, which accounts for two-thirds of the national economy, along with reduced exports, nonresidential fixed investments, inventory investment and spending by local and state governments.
Analysts aren’t sure whether the quarterly dip portends an extended slowdown or, as has happened before, will quickly be reversed.
For the full year, GDP grew 2.4%, the same as in 2014, according to the department's flash analsis. Last year’s price index advanced only 0.3%, compared with 1.5% in 2014.
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