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US GDP grew a weaker-than-expected 4% in the 4th quarter as COVID-19 cases soared

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The US economy grew less than anticipated in the last three months of 2020 as the moderating pace of recovery padded against the coronavirus’s dire resurgence.

US gross domestic product grew at an annualized rate of 4% in the fourth quarter, the Commerce Department said Thursday. Barring last quarter’s record leap, the end-of-year gain is the largest since 2014. Economists surveyed by Bloomberg expected growth of 4.2% through the period.

The reading represents how much the economy would’ve grown had the fourth-quarter pace lasted for 12 months. The Thursday data marks a sharp slowdown from the third details ⇒

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