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U.S. GDP rose 2.6% in fourth quarter, Commerce dept. says

American growth fueled by higher consumption and rising exports

27 March, 16:16
U.S. GDP rose 2.6% in fourth quarter, Commerce dept. says (ANSA) - New York, March 27 - The US economy grew 2.6% in the fourth quarter of 2013, outpacing a forecast of 2.4% growth, the US Department of Commerce announced on Thursday.

The US gross domestic product (GDP) was still more contained than an initial government forecast of 3.2% growth, as well as analysts' expectations of a 2.7% rise. GDP growth was fueled by higher US consumption, which rose 3.3% - the highest rate since 2010 - and higher exports, which rose 9.5%. Economic growth was dampened, however, by government spending cuts and a 7.9% decline in real estate investment in the final three months of last year.

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