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Economy Grows 2.1% in The 4th Quarter as GDP Gets Big Boost From Falling Trade Deficit


Thursday, 30 January 2020 20:57 WIB

Ekonomi ASGDP AS


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The U.S. economy grew slightly faster than 2% in the final three months of 2019, aided by a temporary plunge in imports and a resurgent housing market. The modest rate of growth likely foreshadows what lies ahead.

Gross domestic product, the official scoreboard for the economy, expanded at a 2.1% clip in the fourth quarter. Analysts polled by MarketWatch had forecast a 1.9% increase.

The U.S. got off to sizzling start last year as GDP reached 3.1% in the first quarter, but growth tapered off to the post-recession average of around 2% after the trade war with China intensified and business investment slumped.

The government’s snapshot of the economy toward the end of last year offers a glimpse of what’s in store for 2020. Consumer spending has fueled a record expansion now in its 11th year even as businesses have cut back on investment and production. Those trends are likely to persist.

Source : Marketwatch


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