U.S. economy slowed to a 0.7 percent growth rate in 2015's fourth quarter

U.S. economy slowed in 4th quarter of 2015.
(Image credit: Spencer Platt/Getty Images)

The U.S. economy's growth stalled in the fourth quarter of 2015, inching ahead at a significantly slower rate of just 0.7 percent from September to December, the Commerce Department said Friday. The newly released data shows a slight divergence from the 0.8 annualized rate economists were expecting and a step back from the third quarter's 2 percent pace.

The news of the lackluster fourth quarter comes as global markets remain tumultuous, with China's stocks continuing to flounder and the price of oil remaining low. The fourth quarter's growth rate will likely further lower expectations for the coming quarters.

Overall in 2015, the economy grew an estimated 2.4 percent, which puts it about even with 2014's growth.

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