US economy grew faster than expected during the fourth quarter

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Gross domestic product, the broadest measure of goods and services produced across the economy, grew by 3.3% on an annualized basis in the three-month period from October through December, the Commerce Department said in its first reading of the data Thursday. 

That is far higher than the 2% increase forecast by Refinitiv economists.

This is a developing story. Please check back for updates.

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