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Gross Domestic Product beat expectations in the fourth quarter and grew at a 1.4% seasonally adjusted annual rate, according to the Commerce Department’s report.
The GDP’s annual rate was estimated to only rise 1%, the second estimate was also 1.0% with the first estimate at plus 0.7%.
Analysts with Econoday said that the third estimate got a boost from an upward revision for personal consumption expenditures, which came in at a respectable 2.4% annualized rate.
Analysts notes that residential fixed investment also gave a 10.1 %boost to the quarter, but it was offset in part by a 2.1% decline on the non-residential side.
In January, the GDP showed a significant markdown for its fourth quarter compared to the 3.9% increase last spring. The economy expanded at a 2.4% clip last year, the same as in 2014.
