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The US economy shrank at an annualised rate of 0.1 per cent in the fourth quarter of 2012 as fiscal cliff concerns weighed on business investment.
But much of the fall was due to a big reversal in business inventories – which knocked 1.3 percentage points off growth – suggesting that the underlying economy remains stuck on a feeble growth path of around 1-2 per cent.
http://link.ft.com/r/XYEWFF/
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