GDP Highest in Six Years Despite Revision

Washington, DC, March 26, 2010--The U.S. economy grew at the fastest pace in six years in the fourth quarter of 2009, due to a significant inventory adjustment, strong business investments and modest consumer spending, the Commerce Department said.

U.S. real gross domestic product increased at a 5.6% annualized pace in the fourth quarter, revised down from the 5.9% pace reported a month ago.

In the past year, real GDP has risen 0.1%. For all of 2009, GDP fell 2.4%. The revision was largely in line with expectations of economists, who figured GDP would be revised down to 5.7%.