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WASHINGTON, March 29: The US economy expanded at a 2.5 per cent annualised pace in the fourth quarter of 2006, a bit faster than earlier estimates, revised data showed on Thursday. But analysts said the report showed more tepid growth is likely ahead as the economy takes a hit from a slumping real estate market. This raises questions about whether growth will pick up as expected by the Federal Reserve.
The Commerce Department revision for gross domestic product (GDP) was up from a 2.2 per cent estimate released a month earlier, and slightly ahead of Wall Street forecasts which called for no revision.—AFP
