Investing.com

Investing.com - The U.S. economy expanded slightly less than expected in the final three months of 2013, underlining concerns over the strength of the economy, official data showed on Thursday.



In a report, the Bureau of Economic Analysis said gross domestic product grew at a seasonally adjusted annual rate of 2.6% in the fourth quarter, below expectations for growth of 2.7%.



The U.S. economy expanded by 4.1% in the preceding quarter.



The data showed personal consumption grew 3.3% in the three months ended December 31, above forecasts for 2.8% and up from an initial estimate of 2.6%.



Consumer spending typically accounts for nearly 70% of U.S. economic growth.



The GDP price index rose by 1.6% in the fourth quarter, in line with expectations and unchanged from the preceding quarter.



Following the release of the data, the U.S. dollar added to gains against the euro, with EUR/USD shedding 0.23% to trade at 1.3753, compared to 1.3761 ahead of the data.



Meanwhile, U.S. stock index futures pointed to a mixed open. The Dow 30 futures pointed to a gain of 0.1%, S&P 500 futures indicated a flat open, while the Nasdaq 100 futures signaled a gain of 0.1%.



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