US Economy Grew Faster in the Fourth Quarter of 2012 Than Was Expected

0.4 percent, according to the Department of Commerce

The US economy grew at a faster than expected 0.4% in the fourth quarter of 2012, the Department of Commerce has said.

The annualised figure was better than an earlier estimate of 0.1% growth, reflecting increased investments in plant and equipment.

However, despite the upwards revision, the department warned that the economy remained "sluggish".