US 4Q GDP Up A Revised 0.1%, But Still Weakest Since 2011

By Joseph Lazzaro | February 28 2013 8:58 AM

U.S. gross domestic product rose a revised 0.1 percent in the fourth quarter -- an improvement from the initially estimated 0.4 percent contraction, the U.S. Commerce Department announced Thursday.

Sponsorship Link

However, although the growth rate was an improvement, it still marked the slowest pace of growth since the first quarter of 2011. The economy must grow at a much faster rate to lower the nation's high unemployment rate.

Thursday's estimate was the second of three for the quarter: The U.S. Commerce Department revises its economic statistics as more data becomes available to the government.

Economists surveyed by Reuters had expected the economy to grow 0.5 percent in the fourth quarter.

More in Economy

US Farm Bill: House Approves $20.5B Cut To Food Stamps

US Farm Bill: House Approves $20.5B Cut To Food Stamps

Alibaba Subsidiary Lets Small And Medium Sized-Companies Hedge Against Fluctuating Yuan

Alibaba Subsidiary Lets Small And Medium Sized-Companies Hedge Against Fluctuating Yuan

Abenomics Helped Fuel Thursday's Asian Market Dive, But Japan Is Hoping It's Just A Hiccup

Abenomics Helped Fuel Thursday's Asian Market Dive, But Japan Is Hoping It's Just A Hiccup

Chinese Consumer Confidence Index 15 Points Higher Than Global Average Despite Economy Slowing Down

Chinese Consumer Confidence Index 15 Points Higher Than Global Average Despite Economy Slowing Down

In Depth

Westboro Baptist Church's 'God Hates Oklahoma' Site Hacked In Hilarious Fashion

Westboro's 'God Hates Oklahoma' Site Hacked For Good

Obama Heckler Medea Benjamin Of Code Pink Acknowledged During President's Drone Speech: 'That Woman Is Worth Listening To' [VIDEO, PHOTO]

Obama, With Deft Words, Copes With Heckler During Drone Speech

White Tiger Genetic Secret Unveiled: Single Mutation In Single Gene Removes Orange Color [PHOTOS]

White Tiger's Genetic Secret Unlocked By Scientists [PHOTOS]

Joe Biden's UPenn Commencement Address Upsets Chinese International Students

UPenn's Chinese Students Demand Biden Apologize For Graduation Speech

web counter