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March 27, 2014 AT 4:31 AM
The U.S. economy grew at a 2.6 percent annual rate in the October-December quarter, slightly more than previously estimated, as consumer spending rose at the fastest pace in three years. The Commerce Department says the fourth-quarter growth rate was a bit stronger than its 2.4 percent estimate made last month. The revision reflected stronger consumer spending, which rose at an annual rate of 3.3 percent — its best quarterly pace since 2010. Even with the upward revision, growth in the overall economy slowed from a 4.1 percent pace in the July-September quarter.