Growth Accelerates

The U.S. economy ended 2011 on a relatively strong note. Growth was very weak at 0.4% in the first quarter of 2011. The final quarter registered a 2.8% gain in real GDP. In the fourth quarter, consumer outlays grew 2% after increases of 1.7% in the third quarter and 0.7% in the second. There was also a significant turnaround in spending on inventories and a strong 10.9% advance in spending on new home construction and renovation. On the weaker side, there was a slowdown in outlays on business plant and equipment, and a fairly steep drop in government spending...

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