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WASHINGTON Lac Edwards Jersey , March 25 (Xinhua) -- U.S. economic growth in the fourth quarter of 2015 was revised up Friday, as consumer spending grew faster than previously reported.
U.S. gross domestic product (GDP) increased at an annual rate of 1.4 percent during the September-December period of 2015, higher than the second estimate of 1 percent, the U.S. Commerce Department said.
The upward revision was largely due to faster growth in consumer spending than previously estimated, which grew 2.4 percent in the fourth quarter, higher than the second estimate of 2 percent increase.
In contrast Robby Anderson Jersey , fixed investment in structures, which include oil and gas wells, declined 5.1 percent, as oil-related investment dropped sharply due to low oil prices.
The strong U.S. dollar continues to weigh on the economy Darryl Roberts Jersey , with net exports subtracting 0.14 percentage point from the GDP growth in the quarter.
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