US GDP Grows 1.4%, Missing Forecasts on Shutdown, Trade (3)

The US economy grew less than expected at the end of last year, dragged down by a record-long government shutdown, consumer spending and trade.

Inflation-adjusted gross domestic product increased an annualized 1.4% in the fourth quarter after rising 4.4% in the prior period, according to the government’s initial estimate out Friday. Overall, the economy expanded 2.2% last year, data from the Bureau of Economic Analysis showed.

The weak quarterly result — which was below all forecasts in a Bloomberg survey of economists — came as the US government was shut down for almost half of the three-month period. The BEA ...