U.S. GDP growth is 2.6% in fourth quarter

GDP growth in the U.S. was announced as 2.6% in the fourth quarter, lower than estimate of 2.9%. According to the details;

  • Consumer spending increased by 3.8%, the biggest increase in almost two years.
  • Investment in new housing increased 11.6%,
  • Business spending on equipment rose 11.4% and outlays on structures edged up 1.4%.
  • Imports surged 13.9%, doubling the 6.9% rise in exports.