The U.S. economy expanded at a slower pace than initially estimated late last year.

GDP grew at a seasonally adjusted annual rate of 2.4 percent in the fourth quarter of the year, the Commerce Department said Friday, down from an initial measurement of 3.2 percent.

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John Aziz is the economics and business correspondent at TheWeek.com. He is also an associate editor at Pieria.co.uk. Previously his work has appeared on Business Insider, Zero Hedge, and Noahpinion.