The U.S. economy continued to gain steam in the fourth quarter of 2011 but failed to reach the expansion most economists had predicted.
The 2.8 percent growth for the final quarter of 2011 reported by the Commerce Department Friday was markedly higher than the 1.8 percent growth posted for the third quarter.
But the growth fell short of the 3.1 percent projected by most economists in what may be a sign that economic recovery is still stagnant.
According to the Commerce Department, the increase in GDP was driven by increases in private inventories, consumer spending and residential fixed investments.
Those increases were partially offset by a slowing of nonresidential fixed investments, a downturn in federal spending and an increase in imports.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.