US GDP Grows At 1.4% In Q4, Economy Expands At A Slower Clip Than Wall Street Estimates
Synopsis
Compared to the third quarter, the deceleration in real GDP in Q4 reflected downturns in government spending and exports and a deceleration in consumer spending, the BEA stated.
The United States’ gross domestic product (GDP) for the fourth quarter (Q4) grew at a slower pace than expected, reflecting a downturn in government spending and exports.
The Bureau of Economic Analysis reported that the U.S. economy grew at an annualized rate of 1.4%, lower than the Dow Jones forecast of 2.5%, as cited by MarketWatch.
The third-quarter (Q3) GDP growth estimate was revised upward to an annualized rate of 3.8%, according to a September BEA report.
Compared to Q3, the deceleration in real GDP in Q4 also reflected a pullback in consumer spending. The BEA stated that this was partly offset by an acceleration in investment.
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