The U.S. economy grew at an annual rate of 3% between October and December 2011, as confirmed by the Commerce Department today in its final figures for the quarter.
Most analysts expected that the review and adjustment of figures throw an annualized growth rate of 3.2%.
The rate of increase of gross domestic product (GDP) between October and December 2011 was the highest in over a year and followed a 1.8% in the previous quarter.
With these data, it is confirmed that the U.S. economy grew by 1.7% over the last year, after an increase of 3% in 2010 and a contraction of 3.5% in 2009.
Although government figures indicate a reduction in export figures show a greater investment in information technology companies.
Spending by consumers in the United States amounts to nearly 70% of economic activity, grew by 2.1% in the fourth quarter, the same figures as those given in the two preliminary reports.
Today’s report also confirmed, unchanged, a 1.3% inflation in the price index for personal consumption expenditures, a measure of inflation to which much attention the Federal Reserve.
In the fourth quarter of last year, corporate profits before taxes, fell 0.4% over the previous quarter, when they had risen by 1.2%.
Category: Business News