The US gross domestic product, the broadest measure of the nation's economy, grew at an annualized rate of 2.6% in the fourth quarter. Although that's slower than the previous three months, it's faster than the same period a year earlier.
The US gross domestic product, the broadest measure of the nation's economy, grew at an annualized rate of 2.6% in the fourth quarter.Although that's slower than the previous three months, it's faster than the same period a year earlier. Some forecasts had been much lower. The Federal Reserve of Atlanta had forecast growth of only 1.8%. Economists surveyed by Thomson Reuters had forecast growth as slow as 1.4%.
The solid growth in the fourth quarter resulted in the economy posting 2.9% growth for the full year. That's the best year of growth since 2015."That acceleration is no surprise given the size of the fiscal stimulus introduced early last year," said Paul Ashworth, chief US economist for Capital Economics, talking about the reduced taxes, especially for many corporations.
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