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Economy

March 27, 1993|From Times Staff and Wire Reports

Economy Growing at Slower Pace: A consumer spending spree helped fuel the fastest economic growth in five years in late 1992, the government reported, but analysts said the economy has slowed since then. The Commerce Department said the gross domestic product grew at a 4.7% annual rate from October through December, which economists said confirmed that the economic recovery remains in place. But analysts predicted that the GDP--the total output of goods and services produced in the United States--will grow only about 3% this year. "Recent data suggests that growth during the first quarter is decelerating sharply," said economist Marilyn Schaja of Donaldson, Lufkin & Jenrette Securities Corp. in New York.

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