US growth surges to 3.2% in fourth quarter
2011-01-28 17:27:17
US growth surged to 3.2 percent in the last quarter of 2010, amid higher consumer spending, the Commerce Department said Friday.
Americans spent more and exports grew, pushing growth levels up from the 2.6 percent seen in the third quarter.
But the positive figure missed expectations of a 3.7 percent expansion.
A dip in imports -- which directly subtract from growth -- also added to the expansion.
Amid the depths of the recession businesses ran down their stocks, only to rebuild them as the recovery progressed. Economists believe that rapid re-growth is coming to an end.