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GDP growth cools to 2.6% annual rate in fourth quarter
GDP growth cools to 2.6% annual rate in fourth quarter

Economic growth unexpectedly slowed sharply in the fourth quarter of last year to a modest 2.6% annual rate after a strong six-month stretch raised hopes the U.S. recovery finally was accelerating toward normal. The data released Friday by the Commerce Department came in well below analyst expectations but still indicated the economy was growing at a solid pace as many nations around the world continue to struggle in the wake of the Great Recession. "The current pace of economic growth is likely to sustain strong job growth in the coming months and further reduce the unemployment rate," said Gad Levanon, managing director of macroeconomic and labor market research at the...

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