The US economy cools the end of 2014 – FORTUNE

The US economy cools the end of 2014 – FORTUNE

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Friday, January 30, 2015 at 08:04

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‘+’ The annual increase of 2.6% in the fourth quarter in contrast to 5% of the previous period; for all 2014, growth was 2.4%, the highest in four years, according to the Government. ‘+’

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The growth remained above the rate of 2.5%. (Photo: iStock by Getty Images.)

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WASHINGTON (Reuters) – The US economic growth slowed sharply in the fourth quarter as a weak business spending and a larger trade deficit offset the fastest pace of consumer spending since 2006.

The Gross Domestic Product (GDP) of US grew at an annual rate of 2.6% after the tremendous rate in the third quarter of 5%, said Friday the Commerce Department in its first estimate of GDP in the last three months of 2014.

In general throughout 2014 GDP rose 2.4%, the highest figure in four years, according to the federal government.

The slowing economy, which occurs after two consecutive quarters of strong growth, could be short-lived due to tailwinds left lower gasoline prices.

Even with the moderation in the fourth quarter, growth remained above the rate of 2.5%, which is considered as the potential of the economy.

Economists polled by Reuters had expected the US economy expanded at a rate of 3% in the fourth quarter.

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