Economy in U.S. Expands More Than Previously Estimated

The U.S. economy grew more rapidly in the fourth quarter than previously estimated as consumer spending climbed by the most in three years, showing the expansion had momentum heading into this year’s harsh winter.

Gross domestic product grew at a 2.6 percent annualized rate from October through December, more than the 2.4 percent gain reported last month, figures from the Commerce Department showed today in Washington. The median forecast of 79 economists surveyed by Bloomberg called for a 2.7 percent increase.