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U.S. growth slows as inventory accumulation wanes
U.S. economic growth likely cooled modestly in the first quarter as replenishing of inventories by businesses slowed, though stronger demand for automobiles and a lift to homebuilding from warm weather blunted the blow. Gross domestic product is expected to have expanded at a 2.5 percent annual rate, according to the median of a Reuters poll. That would be a moderation from the fourth quarter's 3.0 percent pace, but decidedly stronger than economists' predictions early in the quarter for growth below the 1.5 percent level. In some ways Friday's report on GDP should stack up well when compared with data for the fourth ... (full story)