U.S. economy limps into new year

United States GDP grew just 0.7 percent in the fourth quarter of 2015, while durable goods orders continued to fall, according to the most recent estimates from the Department of Commerce.    The United States economy grew just 0.7 percent in the fourth quarter, according to a preliminary estimate issued by the U.S. Commerce Department on Friday.
   The economy slowed down considerably from the 2.2 percent growth in the third quarter, raising questions about whether consumer spending will continue to prop up the economy at a time when industrial production and freight transportation are in recession.
   Decreases in exports and personal consumption contributed to the deceleration in Gross Domestic Product, the broadest measure of economic output.
   For the full year, GDP increased 2.4 percent in 2015 – the same rate as in 2014.
   New data from the Commerce Department underscored how the manufacturing sector has slowed down.
   New orders for durable goods in December decreased $12 billion, or 5.1 percent, to $225.4 billion, according to an advance estimate by the Census Bureau. It is the fourth month in the last five that durable goods orders have sagged. Transportation equipment led the decrease, down 12.4 percent, or $10.1 billion, to $71.3 billion.
   Shipments of manufactured durable goods in December, down two of the last three months, decreased $5.4 billion, or 2.2 percent, to $235.8 billion.