Fourth-quarter GDP lowered to 2.5%

• February 28, 2018
• realestatelife
• Announcements, Business & Markets, Real Estate, Real Estate Finance, Your Real Estate Life

The pace of growth in the U.S. economy was trimmed to 2.5% from 2.6% in the fourth quarter, largely because of a slower buildup in inventories of unsold goods.

The revised reading on GDP matched the forecast of economists surveyed.

Every other key figure in the latest upate to gross domestic product was virtually unchanged. The increase in consumer spending, for example, was left at 3.8%.

For the full year, the U.S. expanded 2.3% vs. a 1.6% increase in 2016.