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U.S. growth quickens in Q4, but speed-bumps ahead
U.S. growth quickens in Q4, but speed-bumps ahead
By Lucia Mutikani
(Reuters) - The U.S. economy grew at its fastest pace in 1-1/2 years in the fourth quarter, but a strong rebuilding of stocks by businesses and weak spending on capital goods hinted at slower growth in early 2012.
U.S. gross domestic product expanded at a 2.8 percent annual rate, the Commerce Department said on Friday, a sharp acceleration from the 1.8 percent clip of the prior three months and the quickest pace since the second quarter of 2010.
It was, however, a touch below economists' expectations for a 3.0 percent rate.
"The economy ended 2011 on a fairly positive note, but the composition of growth in the last quarter is not favorable for growth early this year," said Ryan Sweet, a senior economist at Moody's Analytics in West Chester, Pennsylvania.
- more -
http://www.reuters.com/article/2012/01/27/us-usa-economy-idUSTRE7BM0AB20120127
By Lucia Mutikani
(Reuters) - The U.S. economy grew at its fastest pace in 1-1/2 years in the fourth quarter, but a strong rebuilding of stocks by businesses and weak spending on capital goods hinted at slower growth in early 2012.
U.S. gross domestic product expanded at a 2.8 percent annual rate, the Commerce Department said on Friday, a sharp acceleration from the 1.8 percent clip of the prior three months and the quickest pace since the second quarter of 2010.
It was, however, a touch below economists' expectations for a 3.0 percent rate.
"The economy ended 2011 on a fairly positive note, but the composition of growth in the last quarter is not favorable for growth early this year," said Ryan Sweet, a senior economist at Moody's Analytics in West Chester, Pennsylvania.
- more -
http://www.reuters.com/article/2012/01/27/us-usa-economy-idUSTRE7BM0AB20120127
