Economy of United State is continuously growing. Economists call it “Impressive” and say that cuts in federal spending have helped the economy to recover. Although, the overall economic growth was not as better as it was in 2013, says a revised report released by Commerce Department on Friday.
The report claims the pace of growth in the fourth quarter was slightly lower than the third quarter. Last month it was reported that the GDP (Gross domestic product) was 3.2 % and this stands now at 2.4%. No doubt, the fall in the growth from the last quarter (4.1%) was not up to the expectation of economists and it is very disappointing.
The Chief U.S economists for Capital Economics Paul Ashworth welcomed the figure and said that it was undoubtedly “Impressive” growth. On the other hand, the report states that “it is for the first time in the last three years that real estate business has slowed down and its growth is highly related to economic growth”.
Apart from this, it is said that the export of the country is speedily improving and considered to be a large driver of economic stability. Moreover, the investment in corporate sector has also contributed to the growth of this quarter and it is supposed to be impressive by all and sundry.