US economy grows at 1.4% rate in fourth quarter, a dramatic slowdown
Trump insists he’s not to blame for GDP slump as US economy growth slows
- The US economy experienced a significant slowdown in its fourth-quarter growth, with the gross domestic product (GDP) increasing at an annual rate of 1.4%, a sharp drop from 4.4% in the previous quarter.
- This deceleration was primarily attributed to a downturn in both government and consumer spending, with consumer spending growth falling to 2.2% from 3.5%.
- Despite steady economic growth, the US economy is creating few jobs, with less than 200,000 added last year, a figure attributed to factors such as a crackdown on immigration, uncertainty surrounding artificial intelligence, and the impact of tariffs.
- Trump insisted he wasn’t to blame for the slowdown, writing, “The Democrat Shutdown cost the U.S.A. at least two points in GDP. That’s why they are doing it, in mini form, again. No Shutdowns! Also, LOWER INTEREST RATES. ‘Two Late’ Powell is the WORST!!! President DJT”
- The current economic climate is unusual, marked by solid growth, moderating inflation, and low unemployment, yet consumer confidence remains low, reaching its lowest level since 2014 in January.
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