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Economic Report: Fourth-quarter GDP growth revised lower

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The U.S. economy slowed in the fourth quarter and corporate profits fell, paving the way for even slower growth in the first three months of 2019. The government cut fourth-quarter GDP growth to 2.2% from 2.6%.

The numbers: The economy grew somewhat slower in the final three months of 2018 than it originally appeared, largely because of softer consumer spending and a weaker climate for business investment that’s likely to depress growth in the first quarter as well.

Gross domestic product, the official scorecard for the economy, expanded at a 2.2% annual pace in the fourth quarter, the government said Thursday.

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