US economic growth slows in Q4
The larger than expected slowdown in economic growth was attributed to lower exports as well as a decrease in federal government spending and slower non-residential fixed investment. According to a report released by the US Commence Department, the country’s exports increased 2.8% in the final quarter of previous year while imports surged 8.9%.
Meanwhile, the report also showed that the US economy expanded 2.4% in the full year of 2014 to post the fastest growth since 2010.
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