Growth of the US economy slowed in the last quarter of 2014 to 2.2 percent annual rate, unrevised from the forecast issued in February, the Commerce Department said.
The final fourth-quarter GDP growth was lower than what economists had expected. A Reuters poll of economists showed that most of those surveyed expected the fourth-quarter economic growth to be revised up to a 2.4 percent rate.
While earnings of multinational corporations throttled back, the robust US consumer spending helped limit the slowdown in the pace of economic activity in the last three months of 2014.
Multinational corporations have warned that the strong dollar will hurt profits this year and could further pull down the pace of the country’s economic
In the third quarter of 2014, the US economy registered growth rate of 5 percent.