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"The economy ended 2011 on a fairly positive note"
- Ryan Sweet, a senior economist at Moody's Analytics
The U.S. gross domestic product rose 2.8 per cent in the last three months of 2011, less then expected, the Bureau of Economic Analysis said on Friday.
"The economy ended 2011 on a fairly positive note, but the composition of growth in the last quarter is not favorable for growth early this year," said Ryan Sweet, a senior economist at Moody's Analytics in West Chester, Pennsylvania.
"We're still getting unsatisfactory job growth in terms of the amount of income it's going to generate, so consumers are not in a position to go crazy," Joshua Shapiro, chief U.S. economist at Maria Fiorini Ramirez Inc. in New York.
"The U.S. economy is continuing to struggle. It's just getting doses of adrenaline from the Fed every so often, which is not a long run solution."