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Pro's number one most trusted app, based on August 2025 proprietary survey. Here's your midday brief for Friday, March 13th. I'm Pierre Bien-Aimé for The Wall Street Journal. The U.S. economy grew more slowly than previously reported at the end of last year. The Commerce Department says GDP in the fourth quarter rose at a 0.7 percent annual rate. That's half the pace it shared last month.
The department says consumer spending and business investment were slower than first reported, and government spending fell more than previously thought. As for consumer sentiment, the University of Michigan says it's sliding as the conflict in Iran begins to weigh on the American public.
The university's monthly sentiment index was 55.5 in its preliminary March reading, down roughly a point from February. The survey's director says that gains in the days before the conflict began were erased once it did. Adobe's CEO Shantanu Narayan will step down after 18 years in the role.
The software company said he would leave after it finds a new leader for the era of artificial intelligence. Adobe's shares fell more than 6% this morning despite the company posting higher quarterly sales yesterday. Concerns that AI products will replace software tools like Adobe's have weighed on shares of software companies this year. And U.S.
Central Command says all six crew members aboard a refueling aircraft that went down in Iraq have died. Another aircraft was involved that landed safely, indicating that there was a collision. Heads up, an artificial intelligence tool helped us make this episode by creating summaries that were based on WSJ reporting and then reviewed and adapted by an editor.
We'll have more coverage of the day's news on the WSJ's What's News podcast. You can add it to your playlist on your smart speaker or listen and subscribe wherever you get your podcasts.
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