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Gross Domestic Product

US economic growth in Q4 revised up to 2.9 percent rate

The U.S. economy grew at a solid 2.9 percent annual rate in the final three months of last year, a sharp upward revision that caps three quarters of the fastest growth in more than a decade. The Trump administration is hoping the economy will accelerate further this year, aided by sizable tax cuts and increased government spending.

The gross domestic product, the country's total output of goods and services, grew at a faster clip than its previous estimate of 2.5 percent, the Commerce Department reported Wednesday.

That 2.9 percent fourth quarter advance followed gains of 3.1 percent in the second quarter and 3.2 percent in the third quarter. It's the strongest nine-month...

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