WASHINGTON The U.S. economy grew at a 0.1 percent annual rate from October through December, the weakest performance in nearly two years.
But economists believe a steady housing rebound, stronger hiring and solid spending by consumers and businesses are pushing economic growth higher in the current quarter.
The Commerce Department’s second estimate of fourth-quarter growth was only slightly better than its initial estimate that the economy shrank at a rate of 0.1 percent. And it was well below the 3.1 percent growth rate reported for the July-September quarter.
The revision to the gross domestic product was due to higher exports and more business investment. GDP is the broadest measure of the economy’s output.
Read tomorrow's Arkansas Democrat-Gazette for full details.