US growth slows to 2.9% in Q4; consumer spending surges
US economic growth slowed less than previously estimated in the fourth quarter as the biggest gain in consumer spending in three years partially offset the drag from a jump in imports.
Gross domestic product expanded at a 2.9 per cent annual rate in the final three months of 2017, instead of the previously reported 2.5 per cent, the Commerce Department said in its third GDP estimate for the period on Wednesday.
That was a slight moderation from the third quarter’s brisk 3.2 per cent pace.
Gross domestic product expanded at a 2.9 per cent annual rate in the final three months of 2017, instead of the previously reported 2.5 per cent, the Commerce Department said in its third GDP estimate for the period on Wednesday.
That was a slight moderation from the third quarter’s brisk 3.2 per cent pace.