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Growth in U.S. GDP Slows
America's real gross domestic product expanded at a downwardly revised 2.4% from the third to fourth quarter of 2013, according to final data from the Dept. of Commerce's Bureau of Economic Analysis.
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America's real gross domestic product expanded at a downwardly revised 2.4% from the third to fourth quarter of 2013, according to final data from the Dept. of Commerce's Bureau of Economic Analysis.
Last month the BEA estimated fourth-quarter growth at an annualized 3.2%. GDP grew at an annualized 4.1% from the second to third quarter last year. The agency attributes much of the disappointing pace to slower-than-expected growth in personal spending.
Full-year GDP expanded 1.9% last year compared with 2.8% in 2012, according to BEA. It says the price index for gross domestic purchases grew 1.5% in the fourth quarter, up from an initial estimate of 1.2% but down from 1.8% in the third quarter.
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