annualised rate of 0.4 per cent, providing further evidence that the US economy did not take a dip at the end of last year."US growth data for the fourth quarter of 2012 was revised up again to an
The third revision comes after an initial estimate that the economy
shrank 0.1 per cent. That was later revised to growth of 0.1 per cent.
the quarter was still dragged down by big falls in defence spending and
business inventories, both of which analysts regard as temporary,
suggesting that underlying growth continued at a slow but steady 2 per
The big change in the latest revision was a much higher estimate of
business investment in buildings. The Bureau of Economic Analysis now
estimates that it added 0.46 percentage points to the growth rate
instead of a previous estimate of 0.16 percentage points before.
A revival in the commercial real estate sector could add another leg to the economic recovery after a turnround in housing has helped to drive growth this year."