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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