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Article: U.S. economy, lifted by consumer spending, grew at 1.4 percent rate in fourth quarter

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AP Worldstream
Article date:
February 28, 2002
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Dateline: WASHINGTON The U.S. economy, propelled by the biggest surge in consumer spending on big-ticket goods in 15 years, grew at an annual rate of 1.4 percent in the final quarter of 2001, the government reported Thursday.

The bigger-than-expected increase in the gross domestic product, the broadest measure of the economy's health, could mean that economists will date the end of the recession around the end of last year or the beginning of this year.

The revised reading on fourth-quarter GDP as reported by the Commerce Department is much stronger than the 0.2 percent growth rate estimated by the government a month ...

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