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US Economic Growth Slower Than First Thought

  • VOA News

The U.S. economy grew more slowly than first thought in the last few months of 2013.

Friday's report from the Commerce Department says the world's largest economy expanded at an annual rate of 2.4 percent in October, November and December.

That is eight-tenths of a percent slower than a preliminary estimate published one month ago. Officials routinely revise the figures on gross domestic product expansion as more complete data becomes available.

Government experts say the latest figures show disappointing retail sales and a less favorable picture of trade and inventories than initially thought.

Federal Reserve Chair Janet Yellen said Thursday that foul winter weather had slowed some sectors of the economy recently.