WASHINGTON, U.S. economic growth braked sharply in the fourth quarter as businesses stepped up efforts to reduce an inventory glut and a strong dollar and tepid global demand weighed on exports.
Gross domestic product increased at a 0.7 percent annual rate, the Commerce Department said on Friday, also as lower oil prices continued to undermine investment by energy firms and unseasonably mild weather cut into consumer spending on utilities and apparel.
18:05 DP World, Quebec's Caisse to create C$5 billion investment vehicle14
14:36 U.S. economy added 178,000 jobs in November; unemployment rate dropped to 4.6 percent13
13:41 Solid Job Growth Strengthens Prospect for a Fed Rate Increase10
09:46 UK manufacturing growth cools unexpectedly in November: PMI9