Monday, January 31, 2011

US economy accelerated in Q4 2010

The US economy accelerated in the 4Q of 2010 as consumer spending climbed by the most in more than four years. GDP grew at a 3.2% annual rate, Commerce Department figures showed, falling short of the 3.5% median forecast of 85 economists surveyed because of a slowdown in inventories. Excluding stockpiles, the economy rose at a 7.1% pace, the most since 1984.