Business digest

REGION

Profits down at Farmers National

CANFIELD — Farmers National Banc Corp. earned $945,000 in the fourth quarter, compared with $1.4 million in the same quarter of 2008.

Frank Paden, company president and chief executive, said profit was down because of an increase in money set aside for loan losses.

The company had some deterioration in its commercial real- estate portfolio, he said.

Farmers set aside $3 million for loan losses last quarter, compared with $860,000 in the fourth quarter of 2008.

NATION

Economic growth likely to weaken

WASHINGTON — The economy’s faster-than-expected growth at the end of last year, fueled by companies’ boosting output to keep stockpiles up, is likely to weaken as consumers keep a lid on spending.

The 5.7 percent annual growth rate in the fourth quarter was the fastest pace since 2003. It marked two straight quarters of growth after four quarters of decline.

Still, economists expect growth to slow this year as companies finish restocking inventories and as government stimulus efforts fade.

Many estimate the nation’s gross domestic product will grow 2.5 percent to 3 percent in the current quarter and about 2.5 percent or less for the full year.

Honda recalling Fits

NEW YORK — Honda is recalling 646,000 Fit hatchbacks worldwide because of a glitch that could cause water to enter the power-window mechanism, causing components to overheat.

A spokeswoman says the recall affects the 2007-08 models of the Fit, which is sold in other countries as the Jazz and City.

The recall affects Asia, Latin America, Europe, South Africa and North America.

About 140,000 vehicles are affected in the U.S.

In South Africa, one person was killed last year in a vehicle fire related to the malfunction.

From Vindicator staff and wire reports