U.S. eco­nomic growth slows sig­nif­i­cantly in 4th quar­ter

Austin American-Statesman - - BUSINESS - From wire ser­vices Growth

The U.S. econ­omy grew at an ane­mic 1.9 per­cent rate in the fourth quar­ter, un­changed from an ini­tial estimate, al­though con­sumers per­formed bet­ter than first thought.

The in­crease in the gross do­mes­tic prod­uct, the broad­est mea­sure of eco­nomic health, rep­re­sented a sig­nif­i­cant slow­down from 3.5 per­cent growth recorded in the third quar­ter, the Com­merce Depart­ment re­ported Tues­day.

The fourth quar­ter fig­ure was un­changed from the first estimate a month ago, al­though some of the com­po­nents were re­vised. The govern­ment found that con­sumer spend­ing grew at a faster rate, but spend­ing by state and

AP

A worker looks out from the SLS Lux, 57-story res­i­den­tial and ho­tel prop­erty be­ing built in Mi­ami in Jan­uary. A re­port showed hous­ing con­struc­tion grew at a 9.6 per­cent rate in the forth quar­ter.

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