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U.S. Economy Grew 1.4% in Fourth Quarter, Supported by Consumers

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The U.S. economy grew in the fourth quarter at a faster pace than previously estimated, supported by stronger household spending that’s helping cushion the expansion from weakness overseas.

The revised 1.4 percent increase in gross domestic product, the value of all goods and services produced, compares with the Commerce Department’s previous estimate of 1 percent, according to figures issued Friday. The economy grew 2 percent in the third quarter. The report also showed that corporate profits dropped in 2015 by the most in seven years.