Mexican Media Brands
U.S. Economy Expanded 2.4% Last Year
America’s gross domestic product expanded 2.4% last year, the same as in 2014, according to the U.S. Dept. of Commerce.
#economics
Share
America’s gross domestic product expanded 2.4% last year, the same as in 2014, according to the U.S. Dept. of Commerce.
GDP grew by an upwardly adjusted 1.4% from the third to fourth quarter. Last month the Commerce Dept. estimated the quarterly growth at 1%, compared with 2% from the second to third quarter. The department says the upward adjustment reflects stronger consumer spending, which accounts for about two-thirds of U.S. economic output.
Consumer spending climbed 3% in 2015, the biggest increase in a decade. Corporate profits also grew 3% last year, but they shrank 8% in the fourth quarter. Economists blame the impact of a strong dollar, rising wage pressures and low energy costs.
RELATED CONTENT
-
Porsche Doubles EV Target for 2025
Porsche AG says about half the vehicles it sells by 2025 will be equipped with hybrid or all-electric powertrains, twice the ratio it forecast four weeks ago.
-
On The German Auto Industry
A look at several things that are going on in the German auto industry—from new vehicles to stamping to building electric vehicles.
-
On Urban Transport, the Jeep Grand Wagoneer, Lamborghini and more
Why electric pods may be the future of urban transport, the amazing Jeep Grand Wagoneer, Lamborghini is a green pioneer, LMC on capacity utilization, an aluminum study gives the nod to. . .aluminum, and why McLaren is working with TUMI.