Economy, Fourth Quarter | featured news

The Commerce Department said that output expanded at an annual rate of just 0.1 percent, way below the country’s long-term average but above the original estimate of a contraction.

Harley-Davidson is more than just an iconic American brand. It is also a surprisingly good reflection of the forces shaping the U.S. economy as a whole. The motorcycle company reported its fourth quarter earnings Tuesday, and the details show a firm that is as typically American as the roaring sound of a hog on the highway.

The bottom is falling out of economic forecasters' expectations for U.S. economic growth in the final months of 2012. And if some of the more bearish estimates prove accurate, it will be the weakest rate of growth since the start of 2011.

Retail sales fell in October for the first time in three months as superstorm Sandy slammed the brakes on automobile purchases, suggesting a loss of momentum in the fourth quarter.

The economy grew more quickly than previously estimated in the fourth quarter as businesses maintained fairly solid spending and restocked shelves to meet rising demand.

The economy grew slower than initially estimated in the fourth quarter as government investment contracted more sharply and consumer spending was less robust, a government report showed on Friday.

New claims for jobless benefits dipped last week and consumer spending increased in November for a fifth straight month, reinforcing views of a solid economic growth pace in the fourth quarter.