The Gross Domestic Product, that is, the value of everything a nation produces, showed a significant markdown this fourth quarter compared to the 3.9% increase last spring. According to Market Watch author Jeffry Bartash, the economy expanded at a 2.4% clip last year, the same as in 2014, the Commerce Department said.
So it's growth, kinda.
Truth is, by way of comparison, the U.S. hasn’t topped 3% growth since 2005.
Per the Market Watch article, softer consumer spending, falling exports and a smaller buildup in business inventories were largely the cause of the fourth-quarter slowdown, fresh government data showed. Inflation waned again.
The negatives are on the business side especially those facing foreign markets. Net exports pulled down GDP by 0.5%. Non-residential investment pulled down GDP by more than 0.2%. Reduction in inventory investment, which the Federal Open Market Committee warned about on Wednesday, pulled the quarter down by 0.5%.
