U.S. Economy Expands at a 3% Annual Pace, Greater Than Economists Forecast

From bloomberg.com

The U.S. economy expanded more than forecast in the fourth quarter as companies rebuilt inventories in anticipation of growing demand. Gross domestic product climbed at a revised 3 percent annual rate, the most since the second quarter of 2010, Commerce Department figures showed today in Washington. Economists surveyed by Bloomberg News called for no change from the previously reported 2.8 percent gain, according to the median forecast in the Bloomberg News survey. The revision reflected fewer imports and a smaller drop in non-residential investment. Income gains in the second half of 2011 were ... (full story)