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2016-02-02 19:25:00

U.S. OIL & GAS SHOCK

U.S. OIL & GAS SHOCK

The U.S. economy eked out anaemic growth in the final three months of 2015, and the struggling performance of the oil and gas sector was a major contributor to the slowdown.

Real gross domestic product rose at an annualised rate of 0.7 percent in the fourth quarter, down from 2.0 percent in the third and 3.9 percent in the second, the Bureau of Economic Analysis (BEA) reported on Friday.

The economy was buffeted by a broad-based slowdown in consumer, business and government spending growth,…

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Tags: USA, OIL, GAS, PRICES
Chronicle:
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