On Friday afternoon US Growth Domestic Product data revealed the economy slowed more than forecast last quarter on the biggest drag from trade in six years and more moderate consumer spending. The GDP figure rose at a 1.9 percent annualized rate following the prior quarter’s 3.5 percent gain that was the largest increase in two years.
Analysts believe household purchases took a leading role while showing that businesses are starting to spend again. The strong job market and optimism among consumers and companies for President Donald Trump’s policies are likely to keep growth humming along in 2017, though tensions over trade could temper any gains.
Also in the headlines core durable goods orders which advanced more than forecast in December, showing businesses were adjusting investment plans amid prospects for stronger economic growth.