Â
Sponsored by
NATIONAL NEWS
US economy grew at 0.1 percent rate in 4th quarter
Posted: Feb 28, 2013 5:40 AM by ASSOCIATED PRESS
WASHINGTON (AP) - The U.S. economy grew at a 0.1 percent annual rate from October through December, the weakest performance in nearly two years.
The Commerce Department's revision to fourth-quarter growth was only slightly better than its initial estimate that the economy shrank at a rate of 0.1 percent.
The upward revision reflected strength in exports and business investment. Analysts believe growth is rebounding in the current quarter despite higher taxes and government spending cuts set to start on Friday. A steady rebound in housing and solid business and consumer spending is expected to push growth higher in the current quarter.
(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
PLEASE HELP US MODERATE COMMENTS
Offensive or inappropriate comments are subject to removal. To report a comment, please e-mail us at feedback@ksby.com, and include the name of the story and information on the comment.
Thank you! KSBY.com
KSBY.COM VIDEOS
-
Moore, Oklahoma residents continue to sift through rubble left by deadly tornado
Views: 7 May 24, 2013 -
Hasay finishes 18th at regionals, fails to advance to NCAA Championships in 10K
Views: 33 May 24, 2013 -
"Monster" reunited with owner after his cage was blown away during Oklahoma tornado
Views: 99 May 22, 2013
Comments