The United economy grew at a quicker than expected 0.4% in the 4th quarter of 2012, the Commerce Department of US has said.
The annualised figure was amazing than an earlier estimate of 0.1% development, reflecting improved investment in equipment and plant.
Anyway, despite the upwards revision, the Commerce department given alert that economy remained “slow”.
The update figures were marked slowdown from the last quarter.
An acute down in government expenditures and defence spending hurt economic output, said the commerce department of US.
“While non-residential fixed investment is larger than last estimated, the GDP revision has not replaced the normal image of the economy,” said the department statement.
The Oct-Dec figures cam amid expectations that the United States financial recovery is gathering steam, tracking a string of last data presenting increasing house sales and an improve in labour market.
Fundamentally, the US economy is increasing and we are getting best earning,” said DeGan jack, chief Harbor Advisory investment officer
Jennifer Lee (BMO capital Markets economist) explained the revised 4th quarter rate as “still unsatisfactory”, but said that investment financial institutions was expecting United States GDP to improve by 2.3% this year, the figure at which the US economy grew end year.