GDP Growth Slows to 1.1% in Fourth Quarter

Published on:
12 September 2006 at 10:20 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00010330-gdp-growth-slows-to-11-in-fourth-quarter/

By Rex Nutting, MarketWatch

Growth in the U.S. economy slowed dramatically to a 1.1% annual rate in the fourth quarter, the weakest growth in three years, the Commerce Department estimated Friday.

The slowdown in real gross domestic product from 4.1% in the third quarter to 1.1% in the fourth was largely due to weak auto sales, slower business investment, a rise in imports and a large drop in federal spending.

Economists were expecting growth to slow to 2.7% in the quarter, according to a survey conducted by MarketWatch.

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