Economists React to the Fourth-Quarter GDP Report: ‘Less Than Meets the Eye’

The U.S. economy expanded at a 1% rate in the final three months of 2015, better than a previously reported 0.7% gain, the Commerce Department said Friday. Here’s what economists had to say. “In short, the details of the upward revision to GDP were negative, with inventories less of a drag than before. That probably means more of a drag going forward at some point. Overall, though, the report is unlikely to affect forecasts significantly. Data available so far for the first quarter suggest a pickup from the 1.0% overall pace, even if inventories are still…