The U.S. economy cooled by less than expected last quarter as business investment picked up, suggesting growth could be stronger for longer as the Federal Reserve takes a patient approach to interest rates.
The 2.6% annualized rate of gains in gross domestic product from October to December compared with the 2.2% median estimate of economists surveyed by Bloomberg. It followed a 3.4% advance in the prior three months, according to a Commerce Department report Thursday that was delayed a month by the government shutdown.
