(RTTNews) - The U.S. economy grew by slightly more than originally estimated in the fourth quarter of 2021, according to a report released by the Commerce Department on Thursday.
The report showed the increase in real gross domestic product in the fourth quarter was upwardly revised to 7.0 percent from the previously reported 6.9 percent. The upward revision matched economist estimates.
The stronger than previously estimated growth primarily reflected upward revisions to non-residential fixed investment, state and local government spending, and residential fixed investment.
The Commerce Department noted the upward revisions were partly offset by downward revisions to consumer spending and exports.
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