U.S. Growth Revised Higher on Upward Adjustment to Inventories

February 26, 2016 1:43 PM

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The U.S. economy unexpectedly expanded at a faster pace in the fourth quarter than initially estimated, reflecting a higher value of business inventories.

Gross domestic product, the value of all goods and services produced, grew at a 1 percent annualized rate, compared with an initial estimate of 0.7 percent, Commerce Department figures showed Friday. The median forecast in a Bloomberg survey called for a 0.4 percent gain. Consumer spending was revis...

Also read: U.S. economy creates 178,000 jobs in November; jobless rate drops to 4.6%

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