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U.S. Economic Growth Slows to 3.2% in Fourth Quarter
Real gross domestic product, which grew 4.1% in the U.S. from the second to third quarter of 2013, expanded by 3.2% in the fourth period, according to a preliminary estimate by the Bureau of Economic Analysis.
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Real gross domestic product, which grew 4.1% in the U.S. from the second to third quarter of 2013, expanded by 3.2% in the fourth period, according to a preliminary estimate by the Bureau of Economic Analysis.
BEA attributes the slower pace to easing rates of private inventory investment, residential fixed investment and federal, state and local government spending.
The price index for gross domestic purchases grew 1.2% in the fourth quarter of 2013 compared with 1.8% in the third period. When volatile food and energy prices are excluded, the price index was up 1.7% in the fourth quarter from 1.5% in the third.
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