THE ECONOMY

THE ECONOMY

REVISED GROWTH RATE

1.1 PERCENT IN 4TH QUARTERThe economy grew at a 1.1 percent annual rate in the final three months of 1989, better than the 0.9 percent rate estimated a month ago but still the weakest quarterly performance in more than three years, the Commerce Department said Wednesday.

In its second and final revision of fourth-quarter gross national product, the department said consumer spending was slightly higher than earlier estimated and the buildup in stocks of unsold goods was less than previously reported.

But the fourth-quarter rate of growth was the weakest GNP expansion since the third quarter of 1986, when the economy expanded at a weak 0.8 percent annual rate.

HOME SALES ROSE

3.1 PERCENT IN FEBRUARY

WASHINGTON - Sales of new single-family homes in the United States increased 3.1 percent in February to a seasonally adjusted annual rate of 607,000 units, following a revised 6.8 percent fall in January to a 589,000- unit pace, according to the Departments of Commerce and Housing and Urban Development.

They earlier reported January sales down 7.1 percent to 589,000. In

December, sales stood at a revised 632,000, compared with the 634,000 reported earlier.

The February sales rate was 2.6 percent below the year-earlier level.