WASHINGTON (AFX) – The US economy has lost momentum in the fourth quarter 2015th Growth also remained slightly below expectations. The gross domestic product (GDP) has grown extrapolated from October to December on the year by 0.7 percent, the Commerce Department said on Friday in Washington in an initial estimate with. Bank economists had expected a growth of 0.8 percent. In the previous quarter the growth was, however, stood at 2.0 percent. The value has not been revised.
A weaker growth rate had already become apparent. In particular, the industry was last weak. The strong dollar, the weakness in emerging markets, but also the problems of the oil producers slowed the economy. However, private consumption remained relatively robust with annualized growth of 2.2 percent. However, he had risen by 3.0 percent even in the previous quarter. Were impacted GDP also by lower business investment and a reduction of inventories.
‘LACK OF CONFIDENCE’
“From growth’s largest economy is miles away,” said Thomas Gitzel Chief Economist VP Bank. “The US citizens now turn the penny twice around before you spend it.” The company lacked confidence to renew the outdated machinery. Positive remarked the British research firm Capital Economics: Given the strong labor market and the strength of consumption is not to expect a serious slowdown
For the full year 2015, the US economy grew as in the previous year by 2.4 per cent.. Driven Growth was driven by private consumption, which lay the strongest increase in the past decade. For the full year 2016 Capital Economics expects growth of 2.5 percent.
little effect on the financial markets
Growth figures are extrapolated in the US for one year. You specify how much the economy would grow if the pace would be held for one year. In Europe is omitted Annualisation. The growth rates are therefore low and not directly with American figures comparable.
In the financial markets, the US dollar was not affected by the slightly weaker-than-expected data. On the contrary: The euro fell against the dollar even under pressure and fell below the mark of 1.09 dollars. The equity and bond markets were little moved by the numbers. / JSL / BGF / jha /