Robert Hughes

Real GDP Growth Decelerated in the Fourth Quarter, but Domestic Demand Remains Robust

Real gross domestic product rose at a 2.6 percent annualized rate in the fourth quarter, putting the calendar year growth at 2.9 percent, the fastest pace since 2015. Consumer prices rose 1.5 percent in the quarter, putting the calendar year increase at 2.0 percent, the fastest since 2011, and the seventh year in a row with a pace of two percent or less.

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The U.S. Trade Deficit Narrowed in November

The U.S. trade deficit decreased slightly in November reflecting a smaller deficit in goods and a smaller surplus in services. Uncertainty over trade policy could restrain hiring and capital investment for some industries and threaten the broader economic outlook.

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