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Q4 GDP grows slower than expected

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Q4 GDP grows slower than expected

2.6% growth rate disappoints.

US estimated real gross domestic product increased at an annual rate of 2.6% in the fourth quarter, according to a Commerce Department report issued today.  This follows two quarters of strong growth, including a rate of 5.0% in the third quarter. 

Economists had expected growth of 3.0%. 

Growth was dampened in the fourth quarter by weak business spending and a widening trade deficit.  But given the numerous positive indicators in terms of energy prices, consumer confidence and the labor market, the Q4 lull is expected to be short-lived.

The full report can be found here.

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