WASHINGTON (AP) - The U.S. economy grew at a 0.1 percent annual rate from October through December, the weakest performance in nearly two years.
The Commerce Department's revision to fourth-quarter growth was only slightly better than its initial estimate that the economy shrank at a rate of 0.1 percent.
The upward revision reflected strength in exports and business investment. Analysts believe growth is rebounding in the current quarter despite higher taxes and government spending cuts set to start on Friday. A steady rebound in housing and solid business and consumer spending is expected to push growth higher in the current quarter.
Comments are posted from viewers like you and do not always reflect the views of this station.
powered by Disqus
Current Conditions
Weather for Lexington, Kentucky
81° F
Clear
Opinion
Most Commented
powered by Disqus
Enter your number for a chance to win great prizes!
Message and data rates may apply
Text Links
Premium reloading brass once fired
WKYT
2851 Winchester Rd. Lexington, Ky 40509 859-299-0411 - switchboard 859-299-2727 - newsroom
Gray Television, Inc. - Copyright © 2002-2013 - Designed by Gray Digital Media - Powered by Clickability
User Agent: CCBot/2.0 - 193829901
