Saturday, May 23, 2015Saturday, May 23, 2015

US economic growth revised down to 2.4% in fourth quarter

Published on Feb 28, 2014 9:57 PM

WASHINGTON (AFP) - The US economy grew more slowly than previously thought in the 2013 fourth quarter, due to weaker consumer spending, official data released on Friday showed.

The Commerce Department said gross domestic product growth in the final quarter was at an annual rate of 2.4 perc ent, downwardly revising its initial estimate of a 3.2 per cent GDP expansion.