Economy slows to 2.6% in 4th quarter, GDP shows, but consumers and businesses show plenty of resilience

The numbers: A slumping housing market and bigger trade deficit softened up the economy in the final three months of 2018 after a torrid spell of growth in the middle of last year, but consumers and businesses still showed plenty of resilience despite increasing headwinds.

The partial government shutdown that began shortly before Christmas may have been enough to prevent the economy from hitting the 3% mark. The shutdown may have cost the economy 0.1 percentage point of growth in the fourth quarter, the Bureau of Economic Analysis said.What happened: Consumer spending, the main engine of the economy, increased a healthy 2.8% in the fourth quarter.

The housing market, as expected, was weak again. Investment in new construction fell 3.5%, marking the fourth drop in a row.

well noted marketwatch

“was” Q3 was peak. Now we roll down the Rate of Change sine curve as we compare against 2018 & two-year average.

Uh, 2018 was 3%+GDP. Best since 2005 actually.

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