Economics
U.S. Economy Grew 1.9% in Quarter, Unchanged From Early Estimate
- Consumer spending rose at faster pace than initially reported
- Business and government spending contributed less to growth
A worker installs components onto a round baler at a factory in New Holland, Pennsylvania.
Photographer: Luke Sharrett/BloombergThis article is for subscribers only.
The U.S. economy grew in the fourth quarter at a 1.9 percent pace, unchanged from an initial estimate, as slower investment by businesses and state and local agencies offset stronger household purchases.
The gain in gross domestic product, the value of all goods and services produced, was smaller than the median forecast in a Bloomberg survey for a 2.1 percent annualized rate. Consumer spending, the biggest part of the economy, rose 3 percent, more than projected, Commerce Department data showed Tuesday in Washington.