Economic activity in the U.S. unexpectedly grew faster than previously estimated in the fourth quarter of 2020, according to revised data released by the Commerce Department on Thursday.
The report showed real gross domestic product surged up by 4.3 percent in the fourth quarter compared to the previously reported 4.1 percent jump. Economists had expected the pace of GDP growth to be unrevised.
The Commerce Department said the stronger than previously estimated growth primarily reflected an upward revision to private inventory investment that was partly offset by a downward revision to non-residential fixed investment.
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Forex News
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.