US growth slows in fourth quarter of 2014; consumer spending increases by 4.3%
January 31 , 2015
The US economic growth slowed down in the last quarter of 2014 despite growing consumer confidence triggered by low fuel prices.
The annualized growth for the fourth quarter was 2.6%, less than the 3% predicted by the economists.
In the third quarter, the world’s largest economy had registered a 5% growth.
However, consumer spending in the US increased by 4.3% in the October-to-December period, the fastest increase in almost nine years, and up from the third quarter figure of 3.2%.