OK dems, I hope you are proud of yourselves.....You cost the country bigly in economic growth (at least a full 1%) with your ill-conceived shutdown and now you are into another.
WASHINGTON (AP) — U.S. economic growth slowed in the final three months of last year, dragged down by the six-week shutdown of the federal government and a pullback in consumer spending.
The nation’s gross domestic product — the total output of goods and services — increased at a 1.4% annual rate in the fourth quarter, the Commerce Department
reported Friday, down from 4.4% in the July-September quarter and 3.8% in the quarter before that.
The figures point to what could be a more modest pace of growth in the coming quarters, as consumers have taken on more debt and saved less to maintain their spending, a process that may be difficult to sustain. Business investment, other than data centers and equipment dedicated to artificial intelligence, grew at only a moderate pace.
Still, a measure of underlying growth that focuses on consumer and business spending was mostly healthy at 2.4%, economists said. The sharp slowdown in government outlays because of the shutdown shaved a full percentage point from growth.
U.S. economic growth slowed in the final three months of last year, dragged down by the six-week shutdown of the federal government and a pullback in consumer spending.
apnews.com