Article: U.S. economy grew at 1.7 percent rate in fourth quarter, better than previously thought

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Dateline: WASHINGTON The U.S. economy, which fell into recession in early 2001, was already bouncing back in the final three months of the year, growing at an annual rate of 1.7 percent.

The latest reading on the gross domestic product, the broadest measure of the economy's health, shows the expansion was at a faster pace than the government previously estimated, the Commerce Department said Thursday.

The government initially estimated that the economy grew at just 0.2 percent rate in the fourth quarter. A month ago that was revised to a 1.4 percent rate. Thursday's upward revision to the GDP largely reflected an improved trade picture, which was less of a drag on ...

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