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Financial News: U.S. GDP Growth Unchanged At 2.1% In Fourth

U.S. GDP Growth Unchanged At 2.1% In Fourth Quarter

01/30/2020 - 08:42:00 (RTTNews)

(RTTNews) - U.S. economic growth in the fourth quarter continued at the same pace as in the previous quarter, according to a report released by the Commerce Department on Thursday.

The Commerce Department said real gross domestic product climbed by 2.1 percent in the fourth quarter, unchanged from the third quarter and in line with economist estimates.

The pace of GDP growth was unchanged as a downturn in imports, an acceleration in government spending, and a smaller decrease in non-residential investment were offset by a larger decrease in private inventory investment and a slowdown in consumer spending.

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