(MENAFN) US economic growth slowed in Q4, with strong consumer spending offsetting in the drag from efforts by businesses to cut an inventory overhang.
However, Gross domestic product grew at a 1.4 percent annual rate instead of the last reported 1.0 percent pace.
Moreover, GDP growth was basically estimated to have increased at only 0.7 percent rate, while the economy grew at a 2.0 percent pace in Q3.
In addition, spending is encouraged by rising wages as the jobs markets tighten, as well as firming house prices, while gasoline prices almost USD 2 per gallon.
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