Wednesday, February 29, 2012

GDP Revised Up Slightly on Services Spend

CNN Money details:

Economic growth was stronger than originally thought at the end of 2011 as consumers increased their spending and businesses stocked up their inventories. Gross domestic product, the broadest measure of the nation's economy, grew at a 3% annual rate in the fourth quarter of 2011, the Commerce Department said Wednesday. The government had initially said the economy grew at a 2.8% rate. The Commerce Department estimates the GDP figures three times, and Wednesday's report was its second estimate.

Source: BEA

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