washignton, D.C. (EFE) .- The US economy closed 2015 with a sharp slowdown, growing up in the fourth quarter at a rate of only 0.7%, leaving the annual rate at 2.4% accumulated and added shadows on the global economy at a time of growing doubts and volatility.
In its first estimate of gross domestic product (GDP) for the fourth quarter of last year, the Commerce Department placed the annualized growth rate in the 0 , 7%, below estimates of analysts, who had forecast 0.9%.
the slowdown registered in the US economy, which has been growing at a rate of 3.9% in the second quarter and 2% in the third and notes, this 0.7 in the last of the year.
However, it is the first of three estimates made by the US government on the behavior of the economy, so it is common for significant revisions occur in two subsequent estimates.
Overall, economic growth accumulated in 2015 in US was 2.4%, the same figure as in 2014.
The first world economy has not grown above 3% annually since 2005, which casts doubt on the strength of the recovery after acute 2008-10 crisis.
One of the main causes of the slowdown in the last quarter of 2015 was lower than expected contribution from consumers, whose spending accounts for nearly two-thirds of economic activity, and which increased by 2.2% compared to 3% the previous quarter.
Contrary to the provisions of economists, low gas prices and the sustained improvement in the labor market, where unemployment is 5%, have not flatly driven household consumption.
In addition, the trade balance was also an obstacle to growth. Exports recorded a decrease of 2.5% weighed down by a stronger dollar and weak international demand, while imports rose 1.1%.
In this sense, the director of the Council of Economic Advisers of the White House, Jason Furman, he pointed to the “global factors” as responsible for this slowdown, “especially the decline in investment in the energy sector among the very low oil prices and lower exports to a weak international demand. “
Only in the field of mining and drilling, investment fell 35% in 2015, the biggest decline in nearly three decades.
These data agree with the assessment offered by Federal Reserve (Fed) concluded its policy meeting this week, in which it recognized the economic slowdown.
The US central bank, which raised interest rates for the first time in December a quarter point to a range of between 0.25% and 0.50%, seems more reluctant to continue the path of monetary tightening expected at national and international concerns, especially in China financial volatility and concern over a possible slowdown in the Asian giant larger than expected.
“The Fed is closely monitoring global economic and financial developments and is considering its implications for the labor market and inflation, and balance of risk on the prospects, “he said Janet Yellen led body in a statement.
Indeed, inflation is the big concern in the US, closing 2015 at 0.7%, the second lowest figure in 50 years, resulting in even more fuel to the pessimistic views on a much less robust economic recovery in sight Preceding events (Alfonso Fernandez)
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