U.S. fourth-quarter GDP unrevised; weakness in business spending persists

WASHINGTON - The U.S. economy grew moderately in the fourth quarter, the government confirmed on Thursday, and is facing a bumpy road in early 2020 amid the fast-spreading deadly coronavirus that has roiled financial markets.

The economy grew by an unrevised 2.3% in 2019, the slowest annual growth in three years and missing the Trump administration’s 3% growth target for a second straight year. Though there is so far no real evidence that the coronavirus epidemic is impacting the U.S. economy, economists expect the struggling manufacturing sector to take a hit through supply chain disruptions and exports. Pain for the services sector could come via the travel and tourism industry.

Despite the unrevised reading to last quarter’s GDP growth, which was in line with economists’ expectations, consumer spending slowed more than previously reported. There were also downgrades to business investment and government spending.That offset upward revisions to investment in homebuilding and inventory accumulation.Excluding trade, inventories and government spending, the economy grew at a 1.3% rate in the fourth quarter, the slowest in four years.

Goldman Sachs on Sunday cut its first-quarter gross domestic product growth estimate by two-tenths of a percentage point to a 1.2% annualized rate. Growth estimates for the January-March quarter were already on the low side because of Boeing’s biggest assembly-line halt in more than 20 years.

1- Turkey has started a rightful operation against Syrian Regime to protect its borders after the vicious attacks by Syrian Regime against civilians in Turkey controlled zones. Any place where Turkish blood flows will be Turkish soil.

May I have your attention on China very serious underworld criminals. Former Apple CEO Jobs may be killed by underworld party

Fake News.

Coronavirus (COVID-19 variant) is going to be devastating to any economy it contacts. Roughly 15% or so get pneumonia subsequent to infection. Having only a tentative 2% mortality rate, it impacts productivity, which impacts the economy. It's extremely infectious and contagious.

Instead of repeating “Coronavirus”, I would point out the markets have been artificially pumped up by the corporate tax cut (2018), and FED rates cut (2019). Now, the party is likely to be over. And the the FED has not much of a safety net left.

The economy in almost every country is going to take a hit from this virus

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Best Buy shares up as earnings top estimates, driven by strong holiday salesBest Buy's fourth-quarter results exceeded analysts' expectations, driven by strong sales gains over the holidays. citi registry i,,own i,,sell i,,file i,,permission hsbc citylab magnoliabakery socialbakers TourSeries USNavyEurope expertisematter barstoolsports designs re:sell VendorPower VerizonSupport AssurantLabs i,,device apple inc AppleOneHires lookUdid PremiumShieldHQ I bought a 65' tv, 2 sets of airpods, a MacBook Air and an Air Fryer from BestBuy. They came with the fire this year with black friday and cyber monday. other than being able to walk in and walk out TODAY with the product, why would anyone want to pay higher prices for their merchandise when a competitor offers the same with a 2 year in store warranty ? 8 year high end dividend isn't my idea of a valued stock purchase.
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Budweiser Brewer Takes Profit Hit, Loses More U.S. Market ShareAnheuser-Busch InBev reported lower profit for the fourth quarter, blaming higher costs and lost market share in the U.S. to hard seltzer makers. Budweiser sucks..... It’s the new Pabst.... ......bought out by the Canadians/French...... 🤢 Lost market share to good beer too. Probably didn't mention that, did they. The trade wars are hurting US manufacturers.
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