Fourth Quarter Economic Growth Revised Higher

Washington, DC, March 27, 2014 -- Economic growth in the fourth quarter was higher than initially estimated, according to the Commerce Department.

Gross domestic product rose at a 2.6% annual rate, up from the previous estimate of 2.4%.

That was slightly behind economists' expectations for a 2.7% rate.

Consumer spending increased at a 3.3% annual pace, up from the previous 2.6% estimate.

Business equipment expenditures also picked up more than previously estimated.

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