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Q4 GDP growth slows on weak business spending
Published Fri, Jan 30, 2015 · 09:50 PM
Washington
US economic growth slowed sharply in the fourth quarter as weak business spending and a wider trade deficit offset the fastest pace of consumer spending since 2006.
Gross domestic product (GDP) expanded at a 2.6 per cent annual pace after the third quarter's spectacular 5 per cent rate, the Commerce Department said in its first GDP snapshot on Friday.
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