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.