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U.S. Q4 growth revised higher to 3.1% rate

U.S. Q4 growth revised higher to 3.1% rate (by Greg Robb)

WASHINGTON (MarketWatch) - U.S. real gross domestic product for the fourth quarter was revised to an increase of 3.1% annualized from the earlier estimate of a 2.8% rise, the Commerce Department said Friday. The upward revision was in line with forecasts of economists surveyed by MarketWatch. The revision to fourth quarter GDP was largely due to an upward revision to inventory investment and business investment. A key measure of inflation was revised lower. The personal consumption expenditure index, excluding food and energy prices, increased 0.4% in the fourth quarter slightly lower than the 0.5% gain reported last month.

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U.S. Q4 growth revised higher to 3.1% rate