U.S. Q4 '05 GDP Revised Up to 1.6%

Published on:
12 September 2006 at 10:20 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00018591-us-q4-05-gdp-revised-up-to-16/

By Rex Nutting, MarketWatch

The U.S. economy grew at a 1.6% annual pace in the fourth quarter, a bit faster than previously thought, while core inflation was a touch lower, the Commerce Department said Tuesday.

In its second estimate of real seasonally adjusted gross domestic product, the government said inventory rebuilding accounted for all of the growth in the economy during the quarter. Final sales were flat, the weakest since the first quarter of 2002.

A month ago, the government had said GDP increased at a 1.1% annual pace, with final sales falling 0.3%.

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