US Economy Lifted By Exports, Consumer Spending In 4Q

[Cali_Democrat]

http://online.wsj.com/article/BT-CO-20110325-708069.html

US Economy Lifted By Exports, Consumer Spending In 4Q

By Luca Di Leo and Jeffrey Sparshott
Of DOW JONES NEWSWIRES

WASHINGTON (Dow Jones)--The U.S. economy continued to pick up speed at the end of last year, growing slightly more than previously thought thanks to strong exports and consumer spending, but the gains will be hard to sustain at the start of 2011.

Higher gasoline and food prices led consumer sentiment to fall in March to the lowest level in more than a year, suggesting spending in the first quarter won't give the economy the boost it got in the final three months of 2010.

Gross domestic product, the value of all the goods and services produced in an economy, rose at an inflation-adjusted annual rate of 3.1% in the October to December period, the Commerce Department said Friday. It was the third estimate of the economy's benchmark indicator.

In its previous estimate, the government estimated GDP rose 2.8% in the fourth quarter.

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[Kdillard]

1. Good news and hopefully gas and food prices will stabilize.