U.S. fourth-quarter GDP unrevised; weakness in business spending persists

U.S. fourth-quarter GDP unrevised; weakness in business spending persists

The Edge Markets - World·2020-02-28 01:10

WASHINGTON (Feb 27): The U.S. economy grew moderately in the fourth quarter, the government confirmed on Thursday, and is facing a bumpy road in early 2020 amid the fast-spreading deadly 2019 novel coronavirus (Covid-19) that has roiled financial markets.

Gross domestic product increased at a 2.1% annualized rate, supported by a smaller import bill, the Commerce Department said in its second estimate of fourth-quarter GDP. That was unrevised from last month's advance estimate and matched the growth pace logged in the July-September quarter.

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