Fourth Quarter Economic Growth Revised Higher
Washington, DC, Feb. 29, 2012 -- The economy grew 3% in the fourth quarter, faster than originally reported, according to the Commerce Department.
The gain was mainly because of increased commercial construction and consumer spending and lower imports, the government said.
It was the fastest increase in a year and a half.
Economists projected GDP growth would be revised down to 2.7% from an initial reading of 2.8%.