The economy grew at a 2.5 percent pace in the final quarter of last year, healthier than previously thought but still largely caught up in a spell of sluggishness reports the
Associated press from Washington.
The new reading on gross domestic product, released by the Commerce Department on Thursday, was an improvement from the prior estimate of a 2.2 percent growth rate for the October-to-December period. However, it marked the third quarter in a row where the economy’s growth clocked in at a lethargic 2 percent or better, reflecting the drag of the crumbling housing market on overall business growth.
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