An Average Year for GDP Growth
The U.S. economy notched an average year of growth in 2019.
Gross domestic product (GDP) rose 2.1% in the fourth quarter of 2019, according to Bureau of Economic Analysis data released today. Net exports added 1.5 percentage points, its largest contribution to quarterly GDP growth in 10 years, as global demand picked up and domestic demand waned. Consumer spending contributed 1.2 percentage points, while inventories subtracted 1.1 percentage points. Business spending was a drag on growth for the third straight quarter.
Today’s fourth quarter GDP report officially closed the book on 2019, a curious year for the
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