WASHINGTON (dpa-AFX) - A report released by the Commerce Department on Wednesday showed the U.S. economy grew by slightly less than previously estimated in the fourth quarter of 2021.
The Commerce Department said real gross domestic product increased by 6.9 percent in the fourth quarter, reflecting a modest downward revision from the previously estimated 7.0 percent spike. Economists had expected GDP growth to be unrevised.
The slightly slower than previously estimated GDP growth primarily reflected downward revisions to consumer spending and exports that were partly offset by an upward revision to private inventory investment.
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