GDP Growth Rate Slows to 0.6% in 4Q

The economy expanded at a 0.6% annual growth rate in the fourth quarter, slowing from the third quarter’s 4.9% rate, the Commerce Department said Wednesday.

Economists had forecast a 1.3% gross domestic product growth rate, Bloomberg reported.

For the full year, GDP rose 2.2%, the lowest in five years, to $11.6 trillion adjusting for inflation.

The Federal Reserve, following last week’s .75% cut in the benchmark interest rate, may again cut interest rates on Wednesday, the Associated Press reported.