U.S. economic growth in the fourth quarter of last year (October–December) fell well short of market expectations.

An employee works at a supermarket in Washington, United States. /Courtesy of Reuters Yonhap

The U.S. Department of Commerce said on the 20th (local time) that the U.S. gross domestic product (GDP) growth rate in the fourth quarter of last year was tallied at 1.4% (quarter-over-quarter, annualized).

That figure was far below the 2.5% forecast compiled by Dow Jones.

Unlike Korea, the United States releases GDP statistics by converting the quarter-over-quarter growth rate (seasonally adjusted) into an annual rate.

The U.S. federal government went through a shutdown (temporary work stoppage) for 43 days, the longest on record, starting Oct. 1 last year.

The annual growth rate last year was 2.2%, maintaining growth in the 2% range.

※ This article has been translated by AI. Share your feedback here.