Economic activity in the U.S. grew by more than previously estimated in the fourth quarter of 2017, according to a report released by the Commerce Department on Wednesday.
The report said gross domestic product climbed by 2.9 percent in the fourth quarter, reflecting an upward revision from the previously estimated 2.5 percent increase. Economists had expected the pace of GDP growth to be upwardly revised to 2.7 percent.
With the upward revision, the GDP growth in the fourth quarter reflects only a modest slowdown from the 3.2 percent jump in the third quarter.
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