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U.S. GDP Expanded 2.6% in Fourth Quarter of 2013

Wall Street Journal (03/27/14) Jonathan House; Ben Leubsdorf

Consumer spending in the fourth quarter of 2013 was stronger than previously thought, putting the economy in a good position ahead of the disruptions caused by recent snow storms. The U.S. gross domestic product grew at a 2.6% annual rate in the fourth quarter, according to the U.S. Department of Commerce. The growth rate was higher than the 2.4% previously calculated by the department but below economists’ estimate of 2.7%.