(Bloomberg) — U.S. consumer spending moderated and business investment continued to deteriorate at the end of 2019, while a smaller trade deficit and more home construction helped keep economic growth steady.Gross domestic product expanded at a 2.1% annualized rate for a second straight quarter, according to Commerce Department data Thursday. The median forecast in a Bloomberg survey of economists called for 2% growth. Consumer spending decelerated to a 1.8% pace, below projections and the weakest since the first quarter. Business investment declined for a third straight period, the longest stretch since the last recession.Click here for Bloomberg’s TOPLive blog on …read more
Source:: Yahoo Finance
