The U.S. economy expanded at a weaker-
than-expected 4 percent annual pace from October through
December as consumer spending slowed. Americans’ confidence and a
Chicago manufacturing index rose more than anticipated this
month, suggesting faster growth this quarter.
Gross domestic product, the value of all goods and services
produced, rose at about half the pace of the third quarter, the
Commerce Department said in Washington. The National Association
of Purchasing Management-Chicago’s factory index increased to
65.9, the highest in almost a decade, from December’s 61.2. A
reading above 50 signals growth.
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