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U.S. GDP growth revised upward for fourth quarter

U.S. GDP growth for the fourth quarter was revised upward to a 2.6 percent annual rate, a slight increase from the 2.4 percent previously forecasted. A notable increase in health care spending seems to be the biggest driver in the slight upward revision, with most other key categories – sales of U.S.-produced goods and services, business investment, structure spending/investment – were little changed.

Nonetheless, it’s another sign of the economy’s resiliency, if not outright strength, in the face of a very harsh winter and mixed sentiment.