The Gross Domestic Product of USA grew at an annual rate of 2.6% after the tremendous rate in the third quarter than 5%, the Commerce Department said in its first estimate of GDP in the last three months of 2014.
The US economic growth slowed sharply in the fourth quarter as a weak business spending and a larger trade deficit offset the more intense pace of consumer spending since 2006.
The Gross Domestic Product of USA grew at an annual rate of 2.6% after the tremendous rate in the third quarter of 5%, reported Friday Department Trade in its first estimate of GDP in the last three months of 2014.
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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