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U.S. Economy Exceeds Expectations in Fourth Quarter

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On Friday, reports said that the U.S. economy, boosted by stronger consumer spending, grew at a slightly faster rate in the fourth quarter than previously estimated. The Commerce Department added this week that the economy grew at a modest 1.4 percent annual rate in the October-December period which was better than the 1 percent growth rate estimated a month ago but still below the 2 percent annual growth for the July-September quarter. Most of the strength in the revision for last quarter came from an upward boost to consumer spending, particularly involving recreation. Exports also were not as weak as previously thought.

Added on the 25/03/2016 09:30:27 - Copyright : Wochit

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