Dan Schwartzman

's annual shortfall with China shrinking in 2025 to around $202 billion, a 21-year low that's according to Commerce Department data.

Trump also expects to welcome Xi to Washington later this year, with Xi expected to attend a meeting of the Group of 20 nations in Florida.

The U.S.

economy growing less than expected at the end of last year, dragged down by a record-long government shutdown, consumer spending, and trade.

According to the government's initial estimate out Friday, inflation-adjusted gross domestic product increased at annualized 1.4 percent in the fourth quarter after rising 4.4 percent in the prior period.

Overall, the economy expanded 2.2 percent last year.

Data from the Bureau of Economic Analysis showed.

The BEA said the reduction in federal services during the shutdown subtracted about one percentage point from GDP, which contradicted President Trump, who posted on social media an hour before the data was released that the shutdown would cost the U.S., quote, at least two points in GDP.

U.S.

consumer sentiment rising less than expected in February as optimism among wealthier Americans was offset by declining confidence among those who haven't benefited from stock market gains.

People's perception of their current financial situation did improve in February, but 46% of consumers mentioned that high prices were eroding their personal finances.

Norway continues its domination of the medal count at the Milan-Cortina Olympics with 37 total, with the U.S.

now in second with 27.

Norway has also won 17 gold medals, breaking their own record for most golds won at a Winter Olympics.

The U.S.

has won a total of nine gold medals.

That's news when you want it with Bloomberg News Now.

I'm Dan Schwartzman and this is Bloomberg.

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