Economy gains, but not enough to ease job crisis

WASHINGTON (AP) — The economy gained strength at the end of last year as Americans spent at the fastest pace in four years and U.S. companies sold more overseas.

The growth is boosting hopes for a stronger 2011. But it remains too weak to ease high unemployment.

The Commerce Department reported today that growth rose to an annual rate of 3.2 percent in the October-December quarter. That's better than the 2.6 percent growth in the previous quarter. And it was the best quarterly showing since the start of last year.

The economy has now consistently picked up speed since hitting a rough path in the spring.

For all of last year, the economy grew 2.9 percent, the most since 2005. It was an improvement from 2009 when the economy suffered its worst decline in more than 60 years.