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US growth slows in fourth quarter of 2014; consumer spending increases by 4.3%

  • 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%. 

     

     

    Tagged as: US growth, US economic growth, US economy, fourth quarter, third quarter, consumer spending, consumer confidence, business news