The US economy grew more slowly than previously estimated in the final months of last year. The US Bureau of Economic Analysis (BEA) said on Friday that Gross Domestic Product (GDP) expanded at an annualised rate of 0.7% in the fourth quarter, lower than the earlier estimate of 1.4%. The revised figure also fell short of market expectations. The slowdown shows weaker activity across several parts of the economy, including exports, consumer spending, government spending and investment.