01/30/2020

U.S. Growth at Slowest Since 2016

The numbers complicate Trump’s economic pitch

The American economy turned in a weaker annual performance last year than in 2018, held back by developments that set the stage for slower growth to come.

Gross domestic product — which measures the value of goods and services produced inside the United States — grew at a 2.1 percent annual rate between October and December, the same as the previous three months, according to preliminary data released by the Commerce Department on Thursday.

A shrinking trade deficit resulting from a steep falloff in imports helped bolster the fourth quarter’s reading, as did a revived housing sector. Consumer spending expanded, but at a slower pace than during the summer.

Please select this link to read the complete article from The New York Times.