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US economy grew at 2.1% rate in fourth quarter

Added 01-30-20 09:04:03am EST - “Economists surveyed by Refintiv expected the economy to expand by 2.1 percent in the fourth quarter.” - Foxbusiness.com

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Posted By TheNewsCommenter: From Foxbusiness.com: “US economy grew at 2.1% rate in fourth quarter”. Below is an excerpt from the article.

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Cornerstone Macro’s Michael Kantrowitz argues American consumers are seeing a good economic backdrop, that the U.S. economy is just starting to see the benefit of lower interest rates and that central banks around the world will have less of a reason to take action in 2020.

The U.S. economy maintained a steady pace of growth in the fourth quarter of last year, according to new data published Thursday morning.

Gross domestic product, a measure of how much the U.S. produces in goods and services, grew at a 2.1 percent annualized rate during the three-month period from October through December, the Commerce Department said. That matched the 2.1 percent growth rate in the third quarter.

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