Wall Street Journal and Commerce Department

economic expansion: Economists surveyed by the Wall Street Journal had been expecting a marginally higher number, 0.8%, and the news is likely to renew fears that the six-and-a-half-year economic expansion is losing momentum, according to The Guardian. This was the Commerce Department first estimate of gross domestic product for the quarter, the broadest measure of an economy strength, and may be revised up or down. Related:US economic growth slows sharply in fourth quarter – live Both consumers and businesses cut back on spending and US exports were hurt by economic weakness in overseas markets. Fourth quarter GDP has slowed sharply on a number of occasions since the end of the recession only to bounce back in the spring. US GDP figures. Friday estimate was less than half the 2% annual growth rate in the third quarter and was the weakest showing since a severe winter reduced growth to a 0.6% annual rate in last year first quarter. (news.financializer.com). As reported in the news.