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Economy grows at 3.1 percent rate at end of 2010

Economy grows at 3.1 percent rate at end of 2010

The U.S. economy grew a little faster at the end of 2010 than the government had previously estimated, boosted by more inventory building and business investment in plants and equipment.
But rising oil prices will likely limit growth this year.
The Commerce Department says the economy, as measured by the gross domestic product, grew at an annual rate of 3.1 percent in the October-December quarter. That represents an upward revision from last month's 2.8 percent estimate for the same period.
The gains offset a slightly larger trade deficit. Many economists believe the economy has slowed in the current January-March quarter, reflecting the impact of higher oil prices and other challenges to growth.


Updated : 2021-10-23 04:40 GMT+08:00