US economy expanded in fourth quarter; jobless claims tumble

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U.S. economic growth was a bit faster than previously estimated in the fourth quarter, displaying underlying strength that could bolster views that the slowdown in activity early in the year would be temporary.

The economic picture was also brightened by other data on Thursday showing new applications for unemployment benefits falling last week to their lowest level in nearly four months.

Gross domestic product expanded at a 2.6 percent annual rate, the Commerce Department said, up from the 2.4 percent pace it reported last month.

Article Source :http://www.cnbc.com/id/101530274