U.S. economic growth slowed in 4th quarter but GDP grew more than anticipated

March 25, 2016 7:29 PM

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U.S. economic growth slowed in 4th quarter but GDP grew more than anticipated

U.S. economic growth slowed in the fourth quarter but not as sharply as previously estimated, with fairly strong consumer spending offsetting the drag from efforts by businesses to reduce an inventory overhang.

Gross domestic product increased at a 1.4 percent annual rate instead of the previously reported 1 percent, the Commerce Department said Friday in its third GDP estimate.

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