Daily Economic Indicator: Economy grew 2.8% in Q4

01/27/2012 | Washington Post (tiered subscription model), The

The U.S. economy had its best performance in a year and a half during the fourth quarter of 2011, expanding at a 2.8% annualized rate, the Commerce Department said. Consumer spending and corporate inventory expansion were responsible for the gain, which helped the economy grow 1.7% overall for the year. But while consumers spent more, they saved less, continuing a yearlong decrease in the personal savings rate.

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