GDP Rises 3.2% in Fourth Quarter

Washington, DC, Jan. 30, 2014 -- Gross domestic product grew at a seasonally adjusted annual rate of 3.2% in the fourth quarter, the Commerce Department said Thursday.

Economists expected fourth-quarter growth of 3.2%.

Spending by consumers and businesses and stronger exports helped drive fourth-quarter growth.

That offset in the government and residential sectors.

The government said the economy expanded at a 3.7% pace in the second half of 2013, which was the strongest second-half growth since 2003.