The US expanded more slowly than first estimated in the last quarter of 2014, as slower inventory growth and poor trade figures weighed on output.
Gross domestic product in the period rose at a 2.2 per cent annual rate — shy of the 2.6 per cent previously reported and well below the 5 per cent clip reported for the third quarter.
The figures come as the Federal Reserve assesses whether the US economy is strong enough to weather an increase in interest rates from the ultra-low levels that have prevailed for more than six years.
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