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Economic growth slows in Q4 as firms reduce inventory glut
Published Fri, Jan 29, 2016 · 09:50 PM
Washington
US economic growth braked sharply in the fourth quarter as businesses stepped up efforts to reduce an inventory glut, and a strong US dollar and tepid global demand weighed on exports.
Gross domestic product (GDP) increased at a 0.7 per cent annual rate, the Commerce Department said on Friday in a report that showed a further cutback in investment by energy firms grappling with lower oil pr…
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