From The Wall Street Journal — The first week of 2016 has brought sinking temperatures and stocks–and now weaker estimates of economic growth for the fourth quarter.
Before Monday, the U.S. economy appeared to have ended 2015 on solid, though unspectacular, footing. Many economists were estimating that the nation’s gross domestic product–or the sum of all goods and services produced–grew at an annual pace of roughly 2% in October through December. That would match the third quarter’s pace and fall roughly in line with average growth throughout the current expansion.
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