economy
The US economy grew just 0.7% last quarter, ahead of a potentially destabilizing war with Iran
US economic growth was even weaker than previously reported at the end of last year heading into President Donald Trump’s war with Iran.
TL;DR
- US GDP growth revised down to 0.7% for the fourth quarter.
- Exports, consumer spending, and government outlays were revised lower.
- The US economy faces potential disruption from the war with Iran, impacting oil prices.
- The labor market shows weakness with 92,000 jobs shed in February and the unemployment rate rising to 4.4%.
- Consumer spending showed little growth in January as concerns about job security grew.
- The Federal Reserve's preferred inflation gauge showed slight improvement in January.