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The commerce department will be releasing the second estimate on the fourth-quarter GDP from 2019. The median expectations point to a modest increase from the preliminary estimates.
In the first estimate, the commerce department said that that the US economy advanced at a pace of 2.1% in the three months ending December 2019. This was the same pace of increase as seen in the previous three month period. For the second estimate, economists are forecasting that the US GDP will rise by 2.2%.
This marks a mere 0.1 percentage point increase on the headline GDP figures.
The pace of increase in the fourth quarter (and the third quarter) is slower compared to the previous periods.
It comes amid a strong slowdown in the global economy. As trade disputes hit the headlines, both Washington and Beijing retaliated with tariffs. Thus, global confidence in trade declined.
Besides China, a number of other countries that h...
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