U.S. econ­omy grew at 2.1% rate in the fourth quar­ter

Austin American-Statesman - - BUSINESS - Growth

The U.S. econ­omy grew at a slightly faster rate in the fourth quar­ter than ear­lier es­ti­mates, as con­sumers ramped up spend­ing that’s ex­pected to fuel growth through­out 2017.

The gross do­mes­tic prod­uct, the econ­omy’s to­tal out­put of goods and ser­vices, ex­panded at an an­nual rate of 2.1 per­cent in the Oc­to­ber-De­cem­ber pe­riod, the Com­merce Depart­ment re­ported Thurs­day. The fig­ure is an im­prove­ment from the pre­vi­ous es­ti­mate of 1.9 per­cent. The added strength stemmed from stronger con­sumer spend­ing, which off­set an in­creased drag from trade.

Many econ­o­mists project growth of around 2 per­cent in the cur­rent Jan­uary-March quar-

ELISE AMENDOLA / AS­SO­CI­ATED PRESS

The gross do­mes­tic prod­uct — the econ­omy’s to­tal out­put of goods and ser­vices — ex­panded at an an­nual rate of 2.1 per­cent in the Oc­to­ber-De­cem­ber pe­riod, an im­prove­ment from the pre­vi­ous es­ti­mate of 1.9 per­cent.

Newspapers in English

Newspapers from USA

© PressReader. All rights reserved.