The US economy grew at an annualized rate of
0.4 per cent in the fourth quarter of 2012, a revised government
estimate showed Thursday.
The growth in real gross domestic product (GDP) reflected a bigger gain in personal spending, business investment and a decrease in imports, the Bureau of Economic Analysis said.
The data are the third revised estimate of GDP and are based on more complete source data than were available for the second estimate of 0.1 per cent issued last month.
The bureau's statistics also showed that a drop in government spending is still weighing on growth.
The figure for the fourth quarter follows a growth estimate of 3.1 per cent in the third quarter.
Most Popular Stories
- Reid: Bundy Backers Are 'Domestic Terrorists'
- Twitter Offers App Install Ads
- 'Boats 'N Hoes' PAC Sunk by Complaint
- Judge Tells Dad to Quit Emailing His Kids in All Caps
- Natural Gas Shoots Up on Bullish Stockpile Report
- Michaels Data Breach May Affect 2.6 Million Cards
- Legalize Marijuana But Not Hard Drugs, Say Americans
- Naya Rivera and Lea Michele: The 'Glee' Fight That Never Was?
- Larry Flynt Won't Stop Sending Porn to Congress
- Ex-BP Employee Settles Insider Trading Charges