The US economy grew at an annualised rate of 2.3 per cent in the fourth quarter, a weaker than expected end to a year dominated by the resilience of American consumers.
Thursday’s GDP figure from the Bureau of Economic Analysis compared with the 2.6 per cent expected by economists polled by Bloomberg and 3.1 per cent in the third quarter.
It comes a day after the Federal Reserve held interest rates, with chair Jay Powell saying the strength of the economy meant the central bank did not need to be “in a hurry” to cut borrowing costs.
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