Economy grew 2.1% in Q4, faster than believed
Posted: Thu Mar 30, 2017 7:29 am
USA Today - 3/30/2017 - Paul Davidson - The economy grew a bit more rapidly than believed in the fourth quarter as stronger consumer spending more than offset weaker business investment and trade, setting the stage for a better performance in 2017.. The nation’s gross domestic product increased at a seasonally adjusted annual rate of 2.1%, up from the previous 1.9% estimate, the Commerce Department said Thursday. Economists expected an upward revision to 2% growth.This was the third and final estimate of economic growth in the fourth quarter. The economy expanded by just 1.6% in 2016, below the 7 ½-year-old recovery's modest 2.2% pace. Many economists expect similar 1.5% growth in the first quarter because of slower business stockpiling and sluggish spending on utilities due to mild winter weather. Read more @ http://www.usatoday.com/story/money/201 ... /99793582/