Final U.S. GDP data shows economy grew 2.1% in Q4
(Kitco News) - If anyone cares: The U.S. economy expanded in line with expectations in the last quarter of 2019, according the final Gross Domestic Product report from the U.S. Commerce Department.
The latest report on economic growth, showed that the U.S. economy growing 2.1% in the final three months of last year. The final reading was unchanged from the previous estimate and in line with expectations.
However, economists and most market participants aren’t paying much attention to what happened to the U.S. economy more than three months ago. Most people are now trying to anticipate the impact the spreading coronavirus is having on global growth.
Nations around the world are implementing lockdown measures and warning people to stay at home in an attempt to slow the global pandemic
Looking at some of the details of the GDP report, exports increased 2.1%, up from the previous estimate of 2.0%; meanwhile imports declined by 8.4%, up slightly from the previous estimated decline of 8.6%.
Inflation pressures head steady in the fourth quarter with the final estimate coming in at 1.3%, unchanged from the previous forecast and in line with expectations.