Gold Silver Reports — The US grew at a 2.1% pace in the fourth quarter of last year. Gross domestic product (GDP), came in a bit stronger than the previously reported 1.9% annual rate owing to higher spending on gasoline and travel-related services, the government said Thursday.Consumer spending was revised up to a 3.5% increase from 3%, largely accounting for the upward revision to fourth-quarter GDP.
Adjusted pretax profits also rose at a 0.5% annual pace in the fourth quarter after a nearly 6% gain in the third quarter. Despite the upward revision, the GDP growth in the fourth quarter still reflects a notable slowdown from the 3.5% spurt seen in the third quarter. — Neal Bhai Reports