US Economy Slows to 0.7% Growth, Weakest in Years
Irvine News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
U.S. economy growth slows to 0.7% in Q4, marking a significant drop from the previous quarters 4.4%. The longest government shutdown in history contributed to a 16.7% decline in federal spending. Consumer spending rose by 2%, but business investment remained stagnant at 2.2%. Job losses reached 92,000 in January, the weakest hiring pace outside of recessions since 2002. The final Q4 figure is set to be released on April 9th.
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