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3/28, 1:31 PM (Source: TeleTrader)
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US GDP growth weakens to 2.2% in Q4

The expansion of gross domestic product in the United States landed at an annualized 2.2% in the three months through December, compared to 3.4% from the third quarter, the Department of Commerce said on Thursday. The fourth-quarter change in real GDP was revised down 0.4 percentage point.

The PCE price index, an inflation indicator, increased 1.5% or 0.1 percentage points less than in the previous comparable period. The core reading, which strips out food and energy, grew 1.8% after 1.6% in the third quarter. The GDP price index gained 1.7%.

In real terms, the US economy increased by 2.9% in 2018, compared to an increase of 2.2% in 2017. The GDP price index advanced 2.2% or 0.3 points more, while the PCE counterpart climbed 2% compared to 1.8% in the previous year. The core measure accelerated to 1.9% from 1.6%.

Breaking the News / GG