U.S. economic growth slows in Q4

The U.S. economy slowed less than expected in the fourth quarter amid solid consumer and business spending, leaving 2018 growth just shy of U.S. President Donald Trump administration’s 3 percent annual target.

Gross domestic product increased at a 2.6 percent annualized rate in the fourth quarter after expanding at a 3.4 percent pace in the July-September period.

Growth in consumer spending, which accounts for more than two-thirds of U.S. economic activity, increased at a still strong 2.8 percent rate in the fourth quarter. Consumer spending grew at a robust 3.5 percent rate in the third quarter.

Inventories increased at a $97.1 billion rate in the fourth quarter after rising at an $89.8 billion pace in the July-September quarter.

Business spending on equipment accelerated in the fourth quarter from the prior period, growing at a 6.7 percent rate.

Government investment increased at a 0.4 percent rate, the slowest since the third quarter of 2017 .

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Article source: http://www.dailystar.com.lb//Business/International/2019/Mar-01/477726-us-economic-growth-slows-in-q4.ashx