U.S. GDP fourth quarter reading released today, 30th January 2020 held steady at 2.1% – on consensus.
- The U.S. economy grew 2.1% in the fourth quarter.
- The economy grew overall 2.3% for the year (full). This was below the 2.9% increase from 2018 and the 2.4% gain in 2017.
And far below President Trumps 3% target.
NB. These are preliminary figures and therefore subject to revision.
GDP definition
Gross domestic product (GDP) is a monetary measure of the market value of all the goods and services produced in a specific time period.
U.S. jobless claims update
Unemployment figures remained pretty much static as claims totals came in at: 216,000 vs 215,000 consensus.