US economy ekes out 0.4% growth in fourth quarter

BBC – The US economy grew at a faster than expected 0.4% in the fourth quarter of 2012, the Department of Commerce has said. The annualised figure was better than an earlier estimate of 0.1% growth, reflecting increased investments in plant and equipment. However, despite the upwards revision, the department warned that the economy remained “sluggish”. The latest figures were a marked slowdown from the previous quarter. An acute fall in defence spending and government expenditures hurt economic output, said the department. Read Article

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