U.S. Economy Expanded Less Than Forecast in Fourth Quarter

American consumers stepped on the gas in the fourth quarter, just as companies hit the brakes.

The result was that while the world’s largest economy grew at a 2.6 percent annualized rate, the gain fell short of the median forecast of economists surveyed by Bloomberg and was well below the 5 percent pace in the third quarter, Commerce Department figures showed Friday in Washington.

Bloomberg News

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