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US economy unexpectedly plunges in fourth quarter

Wednesday, January 30, 2013

The economy in the United States, the main trading partner of Central America, unexpectedly shrank in the fourth quarter, restrained by the biggest plunge in defense spending in four decades and dwindling inventory growth, as household purchases picked up.

Gross domestic product dropped at a 0.1 percent annual rate, the worst performance since the second quarter of 2009, when the US economy was still in the recession, Commerce Department figures showed today in Washington.

A decline in government outlays and smaller gain in stockpiles subtracted a combined 2.6 percentage points from growth.

Source: Bloomberg