Forexpros – The U.S. economy grew in line with expectations during the final three months of 2011, unchanged from a preliminary estimate, official data showed on Thursday.
In a report, the Bureau of Economic Analysis said gross domestic product increased at a seasonally adjusted annual rate of 3.0% during the fourth quarter, in line with expectations and unchanged from a previous estimate.
According to the data, personal consumption held steady at 2.1%, in line with expectations. Consumer spending typically accounts for nearly 70% of U.S. economic growth.
The report showed that the GDP price index rose 0.9%, matching forecasts and unchanged from a previous estimate.
A key measure of inflation, the core personal consumption index, which excludes food and energy prices, increased 1.3%, also unrevised from prior estimates.
Following the release of the data, the U.S. dollar remained higher against the euro, with EUR/USD shedding 0.33% to trade at 1.3271.
Meanwhile, U.S. stock index futures held on to losses. The Dow Jones Industrial Average futures indicated a drop of 0.35%, S&P 500 futures pointed to a loss of 0.4%, while the Nasdaq 100 futures signaled a 0.3% decline.
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