T he U.S. economy grew at an annualized rate of 5.7% in fourth quarter 2009, far faster than the 2.2% rate in the third quarter. The increase was driven by sharp gains in capital spending on equipment and software. a significant slowdown in import growth, and a substantially smaller run-off in business inventories. On the negative side, consumer spending advanced only 2% in the fourth quarter, compared with 2.8% in the third. Also, growth in residential construction subsided. Outlays on new homes rose at an 18.9% rate in the third quarter, compared with the fourth-quarter gain of 5.7%.
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