Economy Grew at 3 percent Rate in Fourth Quarter of 2011; 1.7 percent for Year

http://www.insidearm.com/news/00005232-economy-grew-at-3-percent-rate-in-fourth-/

The U.S. economy grew at a 3 percent annualized rate in the fourth quarter of 2011, the Commerce Department reported Thursday. The figure, the government’s third estimate of Q4 2011 GDP growth, was unchanged from previous reports.

The Bureau of Economic Analysis releases three estimates for each quarter’s movement in GDP.

Some analysts had expected the BEA may report a slightly higher growth rate, up to 3.2 percent. But the 3 percent rate appears to be the final estimate of economic growth from October to December 2011.

For the year, real GDP grew 1.7 percent, down from 3 percent in 2010.

But the quarterly trend in GDP growth in 2011 paints a more encouraging picture, as the rate steadily grew from 0.4 percent in the first quarter of 2011 to 3 percent in the fourth quarter.

Economy Grew at 3 percent Rate in Fourth Quarter of 2011; 1.7 percent for Year

Patrick Lunsford

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