Personal spending rose to the highest level since 2006 in the first quarter America’s growth lost momentum at the end of 2014 as weak exports highlighted the risks the US recovery faces from sagging overseas demand. Gross domestic product rose by an annualised 2.6 per cent in the fourth quarter — sharply below Wall Street expectations for an increase of at least 3 per cent and a marked slowdown from the 5 per cent pace set in the third quarter. More On this story On this topic IN US Economy While consumer spending — the main driver of America’s economy — surged at its fastest pace since 2006, overall growth was dragged down by poor trade numbers and falling government spending. Stocks slipped on Wall Street in response and bond traders pushed back expectations of interest-rate increases by the Federal Reserve’s Federal Open Market Committee. Separate data showed US […]