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.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
-
Trump DOJ charging House Democrat in ICE fracasspeed read Rep. LaMonica McIver is being charged with assault over a clash outside an immigration detention facility in Newark
-
May 20 editorial cartoonsCartoons Tuesday's political cartoons include Keir Starmer and the EU, Donald Trump's diversion plane, The Trump-Putin phone call, and Joe Biden's diagnosis.
-
How the care industry came to rely on migrant workersThe Explainer Government crackdown on recruiting workers abroad risks deepening care sector crisis, industry leaders warn
-
Crypto firm Coinbase hacked, faces SEC scrutinySpeed Read The Securities and Exchange Commission has also been investigating whether Coinbase misstated its user numbers in past disclosures
-
Starbucks baristas strike over dress codespeed read The new uniform 'puts the burden on baristas' to buy new clothes, said a Starbucks Workers United union delegate
-
Warren Buffet announces surprise retirementspeed read At the annual meeting of Berkshire Hathaway, the billionaire investor named Vice Chairman Greg Abel his replacement
-
Trump calls Amazon's Bezos over tariff displaySpeed Read The president was not happy with reports that Amazon would list the added cost from tariffs alongside product prices
-
Markets notch worst quarter in years as new tariffs loomSpeed Read The S&P 500 is on track for its worst month since 2022 as investors brace for Trump's tariffs
-
Tesla Cybertrucks recalled over dislodging panelsSpeed Read Almost every Cybertruck in the US has been recalled over a stainless steel panel that could fall off
-
Crafting emporium Joann is going out of businessSpeed Read The 82-year-old fabric and crafts store will be closing all 800 of its stores
-
Trump's China tariffs start after Canada, Mexico pausesSpeed Read The president paused his tariffs on America's closest neighbors after speaking to their leaders, but his import tax on Chinese goods has taken effect
