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THE US economy struggled to grow in the October-December quarter as consumer spending, business investment and exports slowed. Yet despite global weakness and shrunken oil and stock prices, many economists expect growth to accelerate on the strength of healthy job gains.
The economy grew at an annual rate of just 0.7 percent last quarter, less than half the 2 percent growth rate in the July-September period, the government said on Friday. It was the worst showing since a severe winter slowed the economy, as measured by the gross domestic product, to a 0.6 percent annual growth rate in last year’s first quarter.
Though the slowdown late last year could renew doubts about the durability of the six-year-old economic expansion, most analysts said they expected the slump to be short-lived.
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