US: Real GDP growth for Q4 revised higher to 7% expected

• US BEA revised Q4 GDP growth to 7% as expected.
• US Dollar Index holds above 97.00 after the data.

The US Bureau of Economic Analysis (BEA) announced on Thursday it revised the annualized Gross Domestic Product growth in the fourth quarter to 7% in its second estimate from 6.9% in its initial estimate.

This reading came in line with the market expectation. 

"The updated estimates primarily reflected upward revisions to nonresidential fixed investment, state and local government spending, and residential fixed investment that were partly offset by downward revisions to personal consumption expenditures (PCE) and exports," the BEA explained its publication.

Market reaction

The US Dollar Index showed no immediate reaction to this data and was last seen rising 1% on the day at 97.15.