USA: economic growth slowed in Q4
Washington – Economic growth continued in the United States in the fourth quarter 2014 but slowed his race despite a dynamic consumption, according to final estimate from the Commerce Department released Friday.
The gross domestic product (GDP) US gained 2.2% between October and December, annualized and seasonally adjusted data, confirming an initial estimate but disappointing the analysts hoped slightly better (+ 2.4%).
The first world economy confirms its slight decline after the dramatic expansion of the third quarter (+ 5.0%).
The slowdown in the last three months of 2014 due to the first US trade deficit and more specifically to a spike in imports of 10.1%, which is a weight for GDP.
The sharp decline in spending of the federal state (-7.3%) and a marked deceleration in business investment also weighed in the balance, the ministry said.
These headwinds, however, did not prevent household consumption to play its full role as an engine of growth and take advantage of falling energy prices which released purchasing power.
Consumer spending, which account for over two-thirds of GDP has increased by 4.4% in the fourth quarter stronger push –leur for almost nine ans– whether in durable goods ( cars …), but also in services (insurance)
. Result: the contribution of household consumption to GDP was the highest since the first quarter of 2006, the ministry said.
Meanwhile, the dramatic appreciation of the dollar, especially compared to the euro has not affected the competitiveness of US products abroad.
Over the last three months of 2014, exports from the United States have thus maintained the same solid pace of expansion in the third quarter (4.5%).
For the full year 2014, US economic growth confirms its total slightly, to 2.4% against 2.2% in 2013.
This year, economists rely on a further acceleration of growth even if the rise in the dollar and a possible increase in policy rates of the US central bank could hold some surprises.
In late March, the Fed has revised its growth projections for this year, which should not increase by only 2.3% to 2.7%, whereas it previously provided a range of 2.6% to 3.0%.
(© AFP / 27 March 2015 1:54 p.m.)
(AFP / 27.03.2015 1:56 p.m.) ^ ->
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