U.S. economy expanded at sluggish 0.7% in fourth quarter, government says, downgrading first estimate

Bloomberg03-13

WASHINGTON — The U.S. economy, hobbled by last fall’s 43-day government shutdown, advanced at an unexpectedly sluggish 0.7 per cent annual rate from October through December, the Commerce Department ...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2619115711?lang=en_US&edition=fundamental","thumbnail":"https://www.bnnbloomberg.ca/resizer/v2/WOYGZPTPCUDVUGYR3UTJHQWANI.jpg?smart=true&auth=9525b2aabcb5fb8e4c73ea852e855b1b4d7eaebfff3fb5d7bcc907ec0d10d5a0&width=500&height=333","is_english":true,"pubTime":"2026-03-13 22:22","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2619115711","market":"sg","top_or_hot":-1,"title":"U.S. economy expanded at sluggish 0.7% in fourth quarter, government says, downgrading first estimate","media":"Bloomberg","content":"<div>\n<p>WASHINGTON — The U.S. economy, hobbled by last fall’s 43-day government shutdown, advanced at an unexpectedly sluggish 0.7 per cent annual rate from October through December, the Commerce Department ...</p>\n\n<a href=\"https://www.bnnbloomberg.ca/business/2026/03/13/us-economy-expanded-at-sluggish-07-in-fourth-quarter-government-says-downgrading-first-estimate/\">Source Link</a>\n\n</div>\n","source":"bnn_bloomberg_highlight","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>U.S. economy expanded at sluggish 0.7% in fourth quarter, government says, downgrading first estimate</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nU.S. economy expanded at sluggish 0.7% in fourth quarter, government says, downgrading first estimate\n</h2>\n\n<h4 class=\"meta\">\n\n\n2026-03-13 22:22 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bnnbloomberg.ca/business/2026/03/13/us-economy-expanded-at-sluggish-07-in-fourth-quarter-government-says-downgrading-first-estimate/><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>WASHINGTON — The U.S. economy, hobbled by last fall’s 43-day government shutdown, advanced at an unexpectedly sluggish 0.7 per cent annual rate from October through December, the Commerce Department ...</p>\n\n<a href=\"https://www.bnnbloomberg.ca/business/2026/03/13/us-economy-expanded-at-sluggish-07-in-fourth-quarter-government-says-downgrading-first-estimate/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4585","symbol_name":"ETF&股票定投概念","start_time":0,"source_url":"https://www.bnnbloomberg.ca/business/2026/03/13/us-economy-expanded-at-sluggish-07-in-fourth-quarter-government-says-downgrading-first-estimate/","article_id":"2619115711","we_media_id":null,"thumbnails":["https://www.bnnbloomberg.ca/resizer/v2/WOYGZPTPCUDVUGYR3UTJHQWANI.jpg?smart=true&auth=9525b2aabcb5fb8e4c73ea852e855b1b4d7eaebfff3fb5d7bcc907ec0d10d5a0&width=500&height=333"],"rights":{"source":"bnn_bloomberg_highlight","url":"https://www.bnnbloomberg.ca/business/2026/03/13/us-economy-expanded-at-sluggish-07-in-fourth-quarter-government-says-downgrading-first-estimate/","rn_cache_url":null,"directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2619115711","pubTimestamp":1773411720,"columns":[],"sourceInfo":{"source_id":"bnn_bloomberg_highlight","name":"Bloomberg"},"weMediaInfo":null,"summary":"The U.S. economy, hobbled by last fall’s 43-day government shutdown, advanced at an unexpectedly sluggish 0.7 per cent annual rate from October through December, the Commerce Department reported Friday in a big downgrade of its initial estimate.","collect":0,"end_time":0,"defaultTopTitle":"bnnbloomberg.ca","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4585":"ETF&股票定投概念","XLP":"消费品指数ETF-SPDR主要消费品","BK4588":"碎股"},"translate_title":"政府表示，美国第四季度经济增长缓慢0.7%，下调首次预估","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"XLP":1.5},"content_text":"WASHINGTON — The U.S. economy, hobbled by last fall’s 43-day government shutdown, advanced at an unexpectedly sluggish 0.7 per cent annual rate from October through December, the Commerce Department reported Friday in a big downgrade of its initial estimate.Growth in gross domestic product — the nation’s output of goods and services — was down sharply from 4.4 per cent in last year’s third quarter and 3.8 per cent in the second. And the fourth-quarter number was half the government’s first estimate of 1.4 per cent; economists had expected the revision to go the other way — and show stronger growth.Federal government spending and investment, clobbered by the shutdown, plunged at a 16.7 per cent rate, hacking 1.16 percentage points off fourth-quarter growth.Latest updates on international news hereFor all of 2025, GDP grew 2.1 per cent, solid but down from an initial estimate of 2.2 per cent and from 2.8 per cent in 2024 and 2.9 per cent 2023.In the fourth quarter, consumer spending grew at a two per cent clip, down from 3.5 per cent in the third quarter and the 2.4 per cent the government had initially estimated. Business investment, excluding housing, increased at a healthy 2.2 per cent pace, likely reflecting money being poured into artificial intelligence, but the increase was down from 3.2 per cent in the third quarter and from the 3.7 per cent advance in the Commerce department’s initial estimate. Exports fell at a 3.3 per cent annual rate in the fourth quarter, a bigger drop than the government first estimated. A category within the GDP data that measures the economy’s underlying strength came in weaker than previously reported, growing at a 1.9 per cent clip, down from 2.9 per cent in the third quarter and from the first estimate of 2.4 per cent. This category includes consumer spending and private investment, but excludes volatile items like exports, inventories and government spending.Latest economic news on BNNBloomberg.ca“Following two consecutive strong readings for the second and third quarters, the economy was expected to soften heading into year-end. It’s now increasingly clear that the economy not only slowed but stumbled into the finish line,” Jim Baird, chief investment officer at Plante Moran Financial Advisors, said in a commentary. “The government shutdown was certainly a major factor in the loss of momentum, but a sharp decline in consumption growth also played a role.’’The U.S. economy — the world’s largest — has shown surprising resilience in the face of President Donald Trump’s policies, including sweeping import taxes and mass deportations. But the war with Iran has driven up oil and gas prices and clouded the economic outlook.Meanwhile, the American job market is in a slump. Last month, companies, nonprofits and government agencies cut 92,000 jobs. In 2025, they added fewer than 10,000 jobs a month, the weakest hiring outside recession years since 2002.Friday’s GDP was the second of the three estimates of fourth-quarter growth. The final report is due April 9.Paul Wiseman, The Associated Press","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.36.2","shortVersion":"4.36.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2619115711","isCrawlerRequest":true}