Except for housing, business isn’t booming and GDP is barely growing

The U.S. economy ended 2015 like it began, with weak economic growth. The Bureau of Labor Statistics estimates GDP grew by only 0.7 percent in the fourth quarter. For the year as a whole GDP grew 2.4 percent, the same rate as the economy grew in 2014.

The problem isn’t consumers — they’re spending money. Businesses aren’t, however. Business investment declined in the fourth quarter, as companies spent less money on structures and equipment. Low oil prices continued to depress investments… …read more