Import Surge Seen Curbing US Economic Growth in Fourth Quarter

MACROECONOMICS - WASHINGTON. U.S. economic growth likely slowed in the fourth quarter as imports surged and a strike at Boeing hurt spending on aircraft, though strong domestic demand will probably keep the Federal Reserve on a shallow interest rate cut path this year.

The advance gross domestic product (GDP) report from the Commerce Department on Thursday is also expected to show consumer spending maintaining a robust pace of growth last quarter. Consumer spending is being underpinned by a resilient labor market, which is churning out solid wage gains.

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