The US economy grew at a 1.1 per cent annual rate in the fourth quarter of 2005, much slower than anticipated, the Commerce Department said Friday. Despite the sluggish performance in the last quarter, the gross domestic product increased 3.5 per cent in 2005. Slow consumer spending and companies' limited investment in equipment were seen as the main reasons for the slowing of economic growth toward the end of the year. However, experts expect expansion to pick up speed again early in 2006. The fourth quarter growth was the slowest in three years and broke a string of ten consecutive quarters in which the economy expanded at least 3 per cent. --SP 22 21 Local Time 19 21 GMT
