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Economy Has Strongest Quarter Since 2010

By: KKTV
By: KKTV

The U.S. economy saw its strongest quarter since early 2010, growing by 2.8 percent in the 4th quarter of 2011, the Commerce Department announced Friday.

Still, numbers fell slightly below expectations, not quite hitting the 3 percent growth that economists predicted.

Much of the growth was due to consumer spending; while the holidays did fall during the fourth quarter, the government adjusted the numbers to account for seasonal trends.

According to CNN, cuts in state and local government spending hindered further growth, dragging numbers down for the sixth quarter straight.

Unemployment fell from the third quarter to the fourth quarter, down to 8.5 percent in December from 9 percent in September.


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