February 27, 2015
U.S. growth slows to 2.2% annual rate
Economic growth in the United States slowed in the fourth quarter of 2014 to a 2.2-percent annual rate, weighed down in part by an increase in imports and a downturn in federal government spending, the Commerce Department said Friday.
The growth rate in the nation’s gross domestic product (GDP) fell from a 5 percent annual rate in the third quarter. Yet, the growth rate came in slightly above the expectations of analysts polled by Yahoo.
The government cited several factors pushing up economic growth, starting with increased consumer spending. It also listed non-residential fixed investment, exports, spending by state and local governments and investments in private inventory.
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