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Q4 GDP revised upward

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Q4 GDP revised upward

Growth came in at 2.6%; full year GDP increased 1.9%.

The Commerce Department today issued a revised Q42013 GDP growth rate by 0.2 percentage points, from the 2.4% previously reported to 2.6%.

Growth for all of 2013 came in at 1.9%.

The revised figure still came in a touch under analysts’ expectations of a revised 2.7% growth rate.

Officials indicated that the upward revision was mainly attributable to higher consumer spending that previously estimated.

While the revised figure is good news for US economic prospects, growth remains under 3.0%, and expectations for the first quarter of this year are for only 2.0% growth.

 

 

 

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