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.
-
UK-India trade deal: how the social security arrangements will workThe Explainer A National Insurance exemption in the UK-India trade deal is causing concern but should British workers worry?
-
Man arrested after 'suspicious' fires at properties linked to Keir StarmerSpeed Read Prime minister thanks emergency services after fire at his former family home in north London
-
Elon Musk's SpaceX has created a new city in Texasunder the radar Starbase is home to SpaceX's rocket launch site
-
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
-
Chinese AI chatbot's rise slams US tech stocksSpeed Read The sudden popularity of a new AI chatbot from Chinese startup DeepSeek has sent U.S. tech stocks tumbling
-
US port strike averted with tentative labor dealSpeed Read The strike could have shut down major ports from Texas to Maine
