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             US GDP Grows at 2.2 Percent Rate in Last 2014 Quarter

   by Jim Randle

   The U.S. economy expanded at a 2.2 percent annual pace in October,
   November and December of 2014, which is much slower than growth in the
   previous quarter.

   A government [1]report issued Friday says lower federal spending and
   rising imports restrained growth.

   The analysis is a final revision of the fourth quarter growth figures,
   based on the most complete data. The figures surprised many economists
   who had predicted slightly higher growth for the last few months of the
   year.

   The report also shows the growth rate for all of 2014 to be at 2.4
   percent, which is a little faster than the previous year.

   The gross domestic product, or GDP, is the broadest measure of economic
   health and tracks all the goods and services produced in the nation.

   Economists say growth in the first few months of this year may have
   been hurt by unusually foul winter weather and the strong dollar. The
   rising value of the dollar means U.S.-made goods are more expensive on
   global markets, which can hurt exports.

   The value of exports is added to the GDP, while the cost of imports is
   subtracted to the assessment of economic activity.
   Material for this report came from Reuters.
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   [2]http://www.voanews.com/content/us-gdp-grows-at-2-2-percent-rate/2696
   914.html

References

   1. http://www.bea.gov/newsreleases/national/gdp/2015/gdp4q14_3rd.htm
   2. http://www.voanews.com/content/us-gdp-grows-at-2-2-percent-rate/2696914.html