Weekly Economic and Financial Commentary – 03 February, 2020
The US economy grew by 2.1% YoY in Q4 2019 (Q3 19: 2.1% YoY) and by 2.3% overall in 2019 (compared to 2.9% for full year 2018), according to the initial estimate released on Thursday by the Commerce Department. The slowdown relative to the prior year largely reflect the fading impact of the fiscal stimulus implemented in 2018 and concerns over global trade, both of which dragged private sector investment (Q4: -6.1%YoY and 1.8% YoY in 2019) and slowed personal consumption expenditure (Q4: -1.8% YoY and 2.6% in 2019).
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