The real Gross Domestic Product (GDP) of the US expanded at an annualized rate of 2.6% in the fourth quarter, the US Bureau of Economic Analysis' (BEA) final estimate showed on Thursday. This reading came in below the previous estimate and the market expectation of 2.7%.
"The revision primarily reflected downward revisions to exports and consumer spending," the BEA explained in its press release. "Imports, which are a subtraction in the calculation of GDP, were revised down."
The US Dollar stays on the back foot after this data and the US Dollar Index was last seen losing 0.38% on the day at 102.25.