Forex News

US economy slows more than forecast in Q4

US GDP revised down

U.S. economic growth was revised down in the fourth quarter, the final GDP reading released on Thursday showed, moving in line with the latest cut in growth outlook by the Federal Reserve.

The world’s biggest economy expanded an annualized 2.2 percent in the October-December quarter, compared to an initial estimate of 2.6 percent and a 3.4 percent growth in the third quarter. Analysts had estimated an expansion of 2.4 percent.

Another report from the U.S. showed a retreat in initial jobless claims to 211,000 last week from a revised of 216,000 a week before. 

As of 12:50 GMT, the dollar snapped some of its earlier gains, as it retreated from the session’s peak of 96.70 to 96.66.

Share Article