U.S. Economy Grows at 2.1% Annual Pace in Fourth Quarter
The U.S. economy
Washington - QNA
The U.S. economy expanded an annual pace of 2.1 per cent in the October-December period, the federal Bureau of Economic Analysis said Thursday.
The second revision raises the fourth quarter estimate of gross domestic product from initial projections of 1.9-per-cent annualized growth.
Even with the upward revision, which was based on household spending that was higher than first estimated, growth slowed sharply in the fourth quarter when compared to the July-September period, when the annual pace hit 3.5 per cent, the strongest quarter in two years.
Even with the fourth quarter revision, the full-year pace of growth in 2016 remained 1.6 per cent, down from 2.6 per cent in 2015 and the slowest rate since 2011.
Source: QNA
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