The Gross Domestic Product of USA grew at an annual rate of 2.6% after the tremendous rate in the third quarter than 5%, the Commerce Department said in its first estimate of GDP in the last three months of 2014.
The US economic growth slowed sharply in the fourth quarter as a weak business spending and a larger trade deficit offset the more intense pace of consumer spending since 2006.
The Gross Domestic Product of USA grew at an annual rate of 2.6% after the tremendous rate in the third quarter of 5%, reported Friday Department Trade in its first
The slowing economy, which occurs after two consecutive quarters of strong growth, could be short-lived due to tailwinds left lower gasoline prices.
Even with the moderation in the fourth quarter, growth remained above the rate of 2.5%, which is considered as the potential of the economy.
Economists polled by Reuters had expected the US economy expanded at a rate of 3% in the fourth quarter.
erp
No comments:
Post a Comment