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Economy Was Even Slower in Fourth Quarter, New Estimate Shows

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GDP grew at 0.7% annual rate late last year, down from initial reported pace of 1.4%

The Commerce Department on Friday said that gross domestic product grew at just an 0.7% annual rate in the fourth quarter of last year, well short of the 1.4% pace it reported in its “advance” GDP report last month. Gross domestic product is the value of all goods and services produced across the economy.

The downward revision was driven by a variety of factors. Consumer spending and business investment were slower than initially reported.

https://www.wsj.com/economy/consumers/economy-was-even-slower-in-fourth-quarter-new-estimate-shows-5b485f19

Well, on the bright side the inflation rate has risen...oh wait a minute...

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