US economy grew 3 percent in final quarter of 2011
US economy grew 3 percent in final quarter of 2011
WASHINGTON (AP) — The U.S. economy grew at a solid pace in the final three months of 2011 but that growth likely slowed in the first three months of this year as businesses cut back on restocking their shelves. The economy grew at an annual rate of 3 percent in the October-December quarter, the fastest pace since the spring of 2010, the Commerce Department reported today. The government’s third and final look at fourth quarter growth was unchanged from the previous estimate. Slower growth in exports than previously estimated was offset by stronger growth in business investment.