US Economy Grew Solid 3.2% In Fourth Quarter

WASHINGTON (AP) — The U.S. economy grew at a robust 3.2% annual pace from October through December, propelled by healthy consumer spending, the Commerce Department reported Wednesday in a slight downgrade from its initial estimate.

The expansion in the nation’s gross domestic product — the economy’s total output of goods and services — was down from a red-hot 4.9% from July through September.

The fourth-quarter GDP numbers were revised down from the 3.3% pace Commerce initially reported last month.

U.S. growth has now topped 2% for six straight quarters, defying fears that high interest rates would tip the world’s largest economy into a recession,

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