U.S. fourth-quarter growth revised upward to 2.1% on consumption

INCREASED CONSUMER SPENDING pushed the final fourth-quarter GDP estimate higher, to an annualized 2.1 percent growth rate, in Commerce Department data released Thursday. / BLOOMBERG NEWS PHOTO
INCREASED CONSUMER SPENDING pushed the final fourth-quarter GDP estimate higher, to an annualized 2.1 percent growth rate, in Commerce Department data released Thursday. / BLOOMBERG NEWS PHOTO
WASHINGTON - The U.S. economy grew in the fourth quarter at a faster pace than previously reported on higher consumer spending, Commerce Department data showed Thursday in Washington. Key points Gross domestic product rose at a 2.1 annualized pace (forecast was for 2 percent), revised from 1.9 percent. Consumer spending, the biggest part of the…

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