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SFY - Output Growth Holds Steady But Details Look Soft
SoFi Select 500
By Robert Hughes
Real gross domestic product rose at a 2.1 percent annualized rate in the fourth quarter, the same pace as in the third quarter, according to the Bureau of Economic Analysis. Measured from fourth quarter 2018 to fourth quarter 2019, real gross domestic product increased 2.3 percent versus 2.5 percent for the four quarters of 2018 (see bottom chart). For calendar year 2019, real gross domestic product grew 2.3 percent, the slowest pace since 2013. Growth in the fourth quarter was driven by gains in consumer spending, government, and a sharp drop in