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

Young Africans Flocking To Dubai, Joining South Asians As Guest Workers

Young Africans Flocking To Dubai, Joining South Asians As Guest Workers

Chinese Premier Li Keqiang’s India Visit: Indian Media Smitten By His Charm; Chinese Media Positive On Sino-Indian Ties

Chinese Premier Li Keqiang’s India Visit: Indian Media Smitten By His Charm; Chinese Media Positive On Sino-Indian Ties

3 Things Europe Can Learn From Japan's Abenomics

3 Things Europe Can Learn From Japan's Abenomics

Chinese Accused Of Inflating Trade Surplus Tenfold

In Depth

Dog Rescued From Rubble: Oklahoma Tornado Survivor Barbara Garcia Finds Missing Dog During Live Interview

Oklahoma Tornado Survivor Finds Missing Dog During TV Interview

Oklahoma Tornado 2013: Photos And Footage Of The Twister's Devastation [PICTURES, VIDEO]

Photos And Footage Of Oklahoma Twister's Devastation

McDonald's To Shrink Menu: Why Less Is More For The World's Largest Fast-Food Chain

For McDonald's Fast-Food Menu, Less Means More

NASA Bites On 3D-Printed Food: Automatic Pizza Assembly Machine Could Fuel Astronauts To Mars

NASA Interested In 3D-Printed Pizza

web counter