Q4 GDP exceeds expectations
An increase in government and consumer spending caused the rising rate. Companies sold $120 billion worth of inventories.
Government spending grew 10.1% in the fourth quarter. Consumer spending grew 6% during the fourth quarter of 2001. Spending on durable goods rose more than 39%.
Business spending on new plants and equipment decreased 13.1%.
The GDP grew 1.2% in 2001.