US economy meets expectations with 3.2% Q4 growth

Preliminary figures released today show the US economy grew at an annual rate of 3.2% in the last quarter of 2013, in line with analysts' expectations.

The growth was largely driven by consumer spending and business investment, and marks one of the best six month periods of growth in the past decade. The second half of 2013 saw a major pickup in growth, with the economy expanding at a rate of 3.7%, compared to the 1.8% growth in the first half of the year. This represents the strongest second half of the year since 2003, when the rate of growth reached 5.8%. Separately, the US Federal Reserve has indicated that growth in economic activity has picked up further since December, and that consumer spending has boosted overall growth p...