USA: The economy is growing slightly less than expected at the end of the year

Washington (dpa) – The US economy grew somewhat weaker by the end of the year than previously expected. In the fourth quarter, gross domestic product rose by an annual rate of 3.2 percent compared to the previous quarter, the Commerce Department announced Wednesday in Washington based on a second estimate. The preliminary numbers were revised down slightly by 0.1 percentage point. The growth follows a strong 4.9 percent increase in the third quarter.

Economic growth in the last three months of last year was broad-based: private household consumption spending, as well as government spending and corporate exports, contributed to this. Imports also increased, which reduces growth arithmetically.

US growth figures are estimated on an annual basis, that is, they are extrapolated over the course of the year. It indicates how much the economy will grow if the pace continues for a year. This approach is not used in Europe, which is why growth figures cannot be directly compared. To get a growth rate similar to Europe, you have to divide the rate in the United States by four.