Friday, 27 February 2015

Sharper than previously thought GDP slowdown unlikely to worry US policymakers

The US economy slowed to a greater extent than initially thought at the end of last year. Updated statistics from the Commerce Department reveal that gross domestic product expanded at an annualised rate of 2.2% in the final three months of the year, down sharply from 5.0% in the three months to September. Economists were expecting a slowdown to 2.1%.