U.S. GDP growth revised up to 3% in fourth-quarter

The U.S. economy grew 3% in the fourth quarter, faster than original
reading, the government reported Wednesday Increase in commercial
construction and consumer spending couple with lower imports
contributed to the higher growth.

The increase was the fastest in a year and a half, according to
revised Commerce Department data. Economists projected GDP growth
would be revised down to 2.7% from an initial reading of 2.8%.

Real final sales in the U.S., which exclude imports and inventories,
rose 1.1% instead of 0.9% as originally reported. Inventories, a major
source of fourth-quarter growth, totaled $54.3 billion instead of $56
billion as initially reported.

Inflation as measured by the consumer PCE index rose 1.2% in the
fourth quarter, or by 1.3% on a "core" basis if food and energy are
excluded.

Real disposable income climbed 1.4% in the fourth quarter, compared
with an earlier reading of 0.8%. The personal savings rate was 4.5%,
up from an initial estimate of 3.7%.