Pete Wargent blogspot

CEO AllenWargent Property Buyers, & WargentAdvisory (institutional). 6 x finance author.

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Sunday, 29 January 2017

US economy decelerates

Slow down

US real GDP increased at an annualised pace of just 1.9 per cent in the fourth quarter of 2016 according to initial estimates, missing market expectations of 2.2 per cent and well down from the 3.5 per cent seen in the preceding quarter. 

As a result, the economy grew by just 1.6 per cent over the calendar year, well down from the 2.6 per cent seen in 2015, and the weakest result for a calendar year since 2011.

The slowdown in the quarter was in part related to a downturn in exports, and an acceleration in imports.

On the plus side for the US, following some 75 consecutive months of job gains wages growth has reached its fastest rate since 2009 as the economy approaches full employment.