23 Dec 2011

US economic growth slower: revised data

8:47 am on 23 December 2011

The US economy grew at a slower pace than previously estimated in the three months to the end of September.

Revised figures from the US Commerce Department show gross domestic product grew at an annual pace of 1.8% in the period, down from the previous estimate of 2% and first estimate of 2.5%.

The BBC reports the revision was largely due to lower consumer expenditure than previously thought.

Separate figures showed a fall in weekly unemployment benefit claims.

Initial claims for state benefits dropped 4,000 to a seasonally adjusted 364,000, the Labor Department said - the lowest level since April 2008.