Despite Hurricane Katrina and soaring oil prices, the U.S. economy expanded at a 4.1 per cent annual rate in the third quarter, according to the final revision of the gross domestic product (GDP) figures released Wednesday, according to DPA. The figure was slightly lower than the 4.3 per cent estimated last month but higher than the 3.8 per cent in the October estimates. It compares with 3.3 per cent growth in the second quarter Free spending by consumers propelled the figures, although that trend has started dropping off as car buying incentives waned. In the northern section of the country, consumers were bracing for soaring energy costs to heat homes during an unusually cold winter. A measure of inflation watched by the central bank rose 1.4 per cent, up from 1.2 per cent last month, Bloomberg financial news service reported. Analysts were expecting a 4.3 per cent growth rate in the final quarter, according to a Bloomberg News survey. Estimates ranged from 4.1 per cent to 4.5 per cent.
