ProMASS News Bureau: Jan 30, 2016:
United States’ economy only grew 0.7 percent between October and December last year, with the impact of slower global growth and turmoil across markets spilling over into US business investment and consumer spending. It is the slowest pace since the first quarter of 2015, when the economy grew at a 0.6 per cent pace. US Commerce Department Friday said, the country’s economy overall grew 2.4 per cent annually in 2015. The main contributors to the slowing pace were the contraction in investment in the energy sector due to the crash in oil prices and the strong dollar’s drag on exports.
