Consumer Spending Propelled Fourth-Quarter Growth: Economy

Consumer spending that rose at the fastest pace in three years helped the U.S. economy grow at a 3.2 percent pace in the fourth quarter, overcoming government cutbacks and laying the foundation for a stronger expansion.

The rate of growth in the world’s largest economy followed a 4.1 percent advance in the prior three months, Commerce Department figures showed today in Washington. Household purchases climbed at a 3.3 percent pace, the best performance since the end of 2010.