WASHINGTON (February 28, 2013)--The U.S. economy grew at a 0.1 percent annual rate from October through December, the weakest performance in nearly two years, the U.S. Commerce Department said Thursday.
The Commerce Department's revision to fourth-quarter growth was only slightly better than its initial estimate that the economy shrank at a rate of 0.1 percent.
The upward revision reflected strength in exports and business investment.
Analysts believe growth is rebounding in the current quarter despite higher taxes and government spending cuts set to start on Friday, and a steady rebound in housing and solid business and consumer spending is expected to push growth higher in the current quarter.
Viewers with disabilities can get assistance accessing this station's FCC Public Inspection File by contacting the station with the information listed below. Questions or concerns relating to the accessibility of the FCC's online public file system should be directed to the FCC at 888-225-5322, 888-835-5322 (TTY), or firstname.lastname@example.org.