U.S. Economy Grew at Unrevised 2.1% Pace in Fourth Quarter

The video discusses the second quarter GDP and PCE data, highlighting a 2.1% annualized growth and a 1.2% quarter-on-quarter increase. Durable goods showed mixed results, with a decline in transport but an increase in capital goods. The coronavirus is expected to disrupt economic data, making current figures less reliable. Consumer spending, a key economic driver, may decline further due to the pandemic. The video also covers the impact of the China trade deal on capital goods orders. Jobless claims remain stable, but their volatility makes it hard to gauge economic strength accurately.

What was the annualized GDP growth rate for the fourth quarter?

• 2.1%

• 1.2%

• 3.0%

• 0.9%

How did durable goods perform when transport is excluded?

• Up by 9/10 of 1%

• No change

• Down by 1/10 of 1%

• Down by 2/10 of 1%

What is the main concern regarding the coronavirus and economic data?

• It will boost GDP significantly

• It will make data unreliable

• It will have no impact

• It will only affect durable goods

What was the expected impact of the Phase One China trade deal on capital goods orders?

• A decrease in orders

• A slight decrease in orders

• No change in orders

• A significant increase in orders

What has been the trend in jobless claims recently?

• They have been steadily increasing

• They have remained unchanged

• They have been very volatile

• They have been steadily decreasing