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Growth in the US economy declined at an annualized rate of 0.1 per cent in the fourth quarter of 2012 following growth of 3.1 per cent in the third quarter, according to data released by the Commerce Department Thursday.
The decline in gross domestic product (GDP) in the fourth quarter
primarily reflected negative contributions from private inventory
investment, federal government spending and exports, the Commerce
Department's Bureau of Economic Analysis said.
The bureau emphasized that the fourth-quarter advance estimate is
based on source data that are incomplete or subject to further
revision.
