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Economic activity in the U.S. unexpectedly grew faster than previously estimated in the fourth quarter of 2020, according to revised data released by the Commerce Department on Thursday.
The report showed real gross domestic product surged up by 4.3 percent in the fourth quarter compared to the previously reported 4.1 percent jump. Economists had expected the pace of GDP growth to be unrevised.
The Commerce Department said the stronger than previously estimated growth primarily reflected an upward revision to private inventory investment that was partly offset by a downward revision to non-residential fixed investment.
