GDP News Updates

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

A downturn in government and consumer spending contributed to the slowdown in fourth-quarter growth, the government said. Consumer spending rose just 2.2%.

GDP rose at a 4.4% annual pace in the third quarter, the Commerce Department reported Jan. 22, up from 3.8% in the April-June quarter and from the 4.3% growth the department initially estimated.

U.S. GDP from July through September — the economy’s total output of goods and services — rose from its 3.8% growth rate in the April-June quarter, the Commerce Department said Dec. 23.

The Commerce Department had previously estimated second-quarter growth at 3.3%.

The first-quarter GDP drop, the first retreat of the U.S. economy in three years, was caused by a surge in imports as businesses scrambled to bring in foreign goods ahead of Trump’s tariffs.

American gross domestic product — the nation’s output of goods and services — rebounded after falling at a 0.5% clip from January through March, the Commerce Department reported July 30.

The U.S. economy shrank at a 0.5% annual pace from January through March as President Donald Trump’s trade wars disrupted business, the Commerce Department reported June 26.

The U.S. trade deficit narrowed in April by the most on record on the largest-ever plunge in imports, illustrating an abrupt end to the massive front-loading of goods by some companies.

The U.S. economy shrank at a 0.2% annual pace from January through March, the first drop in three years, as President Donald Trump’s trade wars disrupted business.