US growth revised up to 0.1% in fourth quarter

US growth revised up to 0.1% in fourth quarter Growth in the US was revised up from an annualised fall of 0.1 per cent to a rise of 0.1 per cent in the fourth quarter of 2012, but the increase was much smaller than analysts had expected.

The initial report of a fall in output for the final three months of the year had caused alarm about a US economic slowdown, but it was distorted by special factors, and economists expected an upward revision to about 0.5 per cent.

However, the new estimate was dragged down by the same big falls in business inventories and federal defence spending – both temporary factors that do not reflect underlying demand from American business and consumers – suggesting that moderate growth will continue.
http://link.ft.com/r/3JFELL/XBV44Z/HDKQA6/2O1V2Q/52QBNY/VU/h?a1=2013&a2=2&a3=28