US 4th quarter growth faster than thought: 0.4pc

WASHINGTON: US economic growth in the fourth quarter was faster than originally thought at 0.4 percent, the Department of Commerce said in its final revision of the estimate Thursday.

The previous estimate had the economy basically flat, expanding at an 0.1 percent annual pace.

The new data said that non-residential fixed investment was higher than previously expected.

However, the department added, growth was still sluggish and "the revision to GDP has not changed the general picture of the economy."