The US economy grew 5.9% in the fourth quarter of 2009, up from 2.2% in the previous three months, revised GDP figures show.
However, real US GDP decreased 2.4% in 2009 from the 2008 annual level, in contrast to an increase of 0.4% in 2008.
In the UK, Office for National Statistics' (ONS') figures today revealed the economy grew by 0.3% in Q4 2009, above the initial 0.1% estimate.
GDP is the output of goods and services produced by US labour and property.
Today's figures are based on more complete source data than were available for the "advance" estimate issued last month by the Bureau of Economic Analysis (BEA), which estimated GDP of 5.7%.
Fourth quarter gains primarily reflect a slowing in the pace of inventory destocking, a deceleration in imports and an upturn in non-residential fixed investment, says the BEA.
However these gains were partly offset by deceleration in federal government spending and in personal consumption expenditure (PCE) growth.
The price index for gross domestic purchases, which measures prices paid by U.S. residents and, like the UK Consumer Prices Index (CPI) can be used as an indicator of inflationary pressures, increased 1.9 % in the fourth quarter, 0.2% less than in the advance estimate, compared to an index increase of 1.3% in the third quarter.
Excluding food and energy prices, the price index for gross domestic purchases increased 1.3% in the fourth quarter, compared with an increase of 0.3% in the third.
An added tier of asset management can of course deliver additional benefits for certain investors, writes Graham Bentley - just be sure you can justify it to the regulator and, especially, the client
The government is "in daily contact" with industry figures over the pensions dashboard as it prepares for the roll-out and its feasibility report, Guy Opperman has said.
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