U.S. economy slows in the fourth-quarter; consumer spending remains bright spot

Reuters ----- U.S. economic growth slowed in the fourth quarter as previously reported, with robust consumer spending offset by downward revisions to business and government investment. Gross domestic product rose at a 1.9 percent annual rate in the final three months of 2016, the Commerce Department said on Tuesday in its second estimate for the period. That matched the estimate published last month. Output increased at a 3.5 percent rate in the third quarter. The economy grew 1.6 percent for all of 2016, its worst performance since 2011, after expanding 2.6 percent in 2015. Economic data early in the first quarter has been mixed, with retail sales rising in January but homebuilding and business spending on capital goods easing. To learn more about the U.S. economy slows in the fourth-quarter and consumer spending remains bright spot click on the picture below to read the article.