WASHINGTON (Reuters) — Economic growth slowed sharply in the fourth quarter to the weakest pace in three years as consumers spent less robustly, growth in homebuilding eased and businesses were less eager to boost investments, a government report Friday showed.
Gross domestic product, the broadest measure of economic activity within U.S. borders, advanced at a 1.1% annual rate in the October-December period — little more than a quarter of the third quarter's 4.1% rate and the weakest for any three months since 0.2% in the fourth quarter of 2002.
Republicans theory of "give the most to those who have the most" and taking middle class jobs overseas is beginning to show up as it is the middle class that spends the money in our economy.
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