U.S. economy cools in fourth quarter, but consumer spending shines

0
1163

By Lucia Mutikani

U.S. economic growth slowed sharply in the fourth quarter as weak business spending and a wider trade deficit offset the fastest pace of consumer spending since 2006.
The slowdown followed two back-to-back quarters of bullish growth and is likely to be short-lived given the enormous tailwind from lower gasoline prices. Other data on Friday showed consumer sentiment jumped to an 11-year high in January.
“We look for strong domestic consumption to continue supporting growth momentum in the coming quarters even as investment suffers due to falling oil prices,” said Gennadiy Goldberg, an economist at TD Securities in New York.
Gross domestic product expanded at a 2.6 percent annual pace after the third quarter’s 5 percent rate, the Commerce Department said in its first snapshot of fourth-quarter GDP.
A gauge of underlying demand, which excludes trade, inventories and government, increased at a 3.9 percent pace. That compared to the third quarter’s 4.1 percent rate. Analysts said the data indicated domestic fundamentals were strong enough to cushion the blow on growth from weakening overseas economies.
“Read the Full Article at www.reuters.com >>>>”

ATTENTION READERS

We See The World From All Sides and Want YOU To Be Fully Informed
In fact, intentional disinformation is a disgraceful scourge in media today. So to assuage any possible errant incorrect information posted herein, we strongly encourage you to seek corroboration from other non-VT sources before forming an educated opinion.

About VT - Policies & Disclosures - Comment Policy
Due to the nature of uncensored content posted by VT's fully independent international writers, VT cannot guarantee absolute validity. All content is owned by the author exclusively. Expressed opinions are NOT necessarily the views of VT, other authors, affiliates, advertisers, sponsors, partners, or technicians. Some content may be satirical in nature. All images are the full responsibility of the article author and NOT VT.
Previous articleAirline whistleblower solves 9/11
Next articleVetLikeMe Weekly 1/30/2015