28.03.201908:43:00UTC+00U.S. Q4 GDP Growth Downwardly Revised To 2.2%

In a report likely to exacerbate concerns about slowing economic growth, the Commerce Department revealed Thursday the increase in U.S. gross domestic product in the fourth quarter was downwardly revised by more than anticipated.

The Commerce Department said GDP climbed by 2.2 percent in the fourth quarter compared to the previously reported 2.6 percent increase. Economists had expected the pace of growth to be downwardly revised to 2.4 percent.

With the downward revision, the pace of GDP growth in the fourth quarter is notably slower than the 3.4 percent jump in the third quarter.