Economy Grew 2.8% In 4th Quarter

By: Associated Press Email
By: Associated Press Email

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January 27, 2012

The U.S. economy grew at a modest 2.8 percent in the final three months of last year, the fastest growth in 2011.

Americans spent more on cars and trucks, and companies built up
their stockpiles. But growth in the October-December quarter -- and
all of 2011 -- was held back by the biggest annual government
spending cuts in four decades.

The Commerce Department says the economy grew just 1.7 percent
last year, roughly half of the growth in 2010 and the worst since
the recession.

Consumer spending rose in the final months of the year and
businesses invested more in inventories, a sign they expect more

But most economists expect businesses to ease up on restocking
in the first three months of the year. That should slow
first-quarter growth.

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