1 Mar 2012

US economic growth figures revised upwards

8:31 am on 1 March 2012

Official figures just out show the United States economy grew unexpectedly in the final quarter of 2011.

Previous readings had gross domestic product (GDP) growing by 2.8% and it had been expected to be revised even lower than that.

However it has, in fact, jumped to an annualised rate of 3% growth, boosted by fewer imports more exports and strong consumer spending.

The growth figures follow better jobs figures and surging corporate profits.