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The economy in the U.S. expanded at a slower pace in the fourth quarter than previously reported, restrained by a smaller gain in stockpiles and widening trade gap.

The world’s largest economy surged in the third quarter, expanding at the fastest pace in more than a decade, as U.S. consumers and businesses spent more than previously estimated.

The economy expanded more than previously estimated in the third quarter, reflecting bigger gains in consumer spending and business investment, and capping the strongest six months of growth in a decade.

The economy in the U.S. expanded more than forecast in the third quarter, capping its strongest six months in more than a decade, as gains in government spending and a shrinking trade deficit made up for a slowdown in household purchases.

The economy in the U.S. expanded more than previously forecast in the second quarter, propelled by the biggest gain in business investment in more than two years, which bodes well for the rest of 2014.

Gains in consumer spending and business investment helped the U.S. economy rebound more than forecast in the second quarter following a slump in the prior three months that was smaller than previously estimated.

The U.S. economy contracted at a 1% annual pace in the first quarter compared with the previous quarter, the first contraction since 2011, the Commerce Department reported May 29.

The U.S. gross domestic product grew at a 0.1% annual rate in the first quarter, the Commerce Department reported April 30.