You choose, we deliver
If you are interested in this story, you might be interested in others from The Journal Gazette. Go to www.journalgazette.net/newsletter and pick the subjects you care most about. We'll deliver your customized daily news report at 3 a.m. Fort Wayne time, right to your email.

Business

  • New subscription service poised to expand tenfold
    Target is taking aim at rival Amazon by expanding a service that regularly delivers products to shoppers’ homes.
  • Target hack probe drags on
    Secret Service investigators say they are close to gaining a full understanding of the methods hackers used to breach Target’s computer systems last December.
  • GE net income down but outlook is up
    General Electric posted lower first-quarter net income than a year ago because last year’s results included the sale of NBC Universal.
Advertisement

US economy grew at 3.2 percent rate in Q4

WASHINGTON (AP) — The U.S. economy grew at a 3.2 percent annual rate in the October-December quarter on the strength of the strongest consumer spending in three years, an encouraging sign for 2014.

The fourth-quarter increase followed a 4.1 percent growth rate in the July-September quarter, when the economy was boosted by a buildup in business stockpiles.

The Commerce Department says that for 2013 as a whole, the economy grew a tepid 1.9 percent, below the 2.8 percent increase in 2012. Growth was held back last year by higher federal taxes and government spending cuts.

With that drag removed, many economists think growth could top 3 percent in 2014, which would be the best performance since the recession ended in mid-2009.

Advertisement