The US economy expanded at a 2.6% clip in the 4th quarter of last year, as rising imports and less federal spending put  a brake on growth. Growth in the 3rd quarter was reported at 5%, making the 4th quarter number considerably less than expected. The consensus among economists was that the 4th quarter number would be 3.1%. But the strong dollar made American products more expensive overseas and vastly increased imports. USA Today: In the fourth quarter, consumer spending, which accounts for more than two-thirds of the economy, grew a healthy 4.3% as plunging gasoline prices and strong job growth bolstered Americans' confidence. But government spending declined 7.5% as defense outlays tumbled after rising sharply in the third quarter. Business investment increased just 1.9% as companies girded for a strengthening dollar and sluggish overseas growth that's expected to dampen exports, and energy companies grappled with plummeting oil prices. Exports...(Read Full Post)