The US posted annualised growth of 2.6% for the
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Posted On: 01/30/2015 9:58:33 AM
The US posted annualised growth of 2.6%
for the fourth quarter lower than the 3% projected by economists.
The figure was weaker than the 5% growth in the third quarter of 2014.
However, the dramatic slide in fuel prices in recent months is expected to result in higher growth for the first three months of this year.
Petrol prices have fallen by 43% since June in the US, according to official figures, putting more money in consumers' pockets and encouraging them to spend.
Consumer spending, which accounts for more than two-thirds of US economic activity, rose by 4.3% in the fourth quarter - the fastest rise in nearly nine years - and higher than the 3.2% for the third quarter.
for the fourth quarter lower than the 3% projected by economists.
The figure was weaker than the 5% growth in the third quarter of 2014.
However, the dramatic slide in fuel prices in recent months is expected to result in higher growth for the first three months of this year.
Petrol prices have fallen by 43% since June in the US, according to official figures, putting more money in consumers' pockets and encouraging them to spend.
Consumer spending, which accounts for more than two-thirds of US economic activity, rose by 4.3% in the fourth quarter - the fastest rise in nearly nine years - and higher than the 3.2% for the third quarter.
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