US growth expands 4.1% in Q4
The US economy expanded at a 4.1% annual rate in the fourth quarter, faster than the initial estimate of 4%, as businesses increased spending.
Figures released today from the Commerce Department show that GDP expanded at a 4.1% annual rate in the three months to December, down from 8.2% in the previous three months but ahead of forecasts.
Most economists had predicted that fourth-quarter GDP would be revised to a 3.8% annual rate of increase.
Businesses increased their investments by 9.6% in the fourth quarter, the Commerce Department said, including a 15.1% increase in equipment and software.
The economy expanded at an 8.2% annual pace in the third quarter, making last year's second-half growth rate 6.1%, the strongest six months since 7.6% in the first two quarters of 1984.
