First quarter US GDP growth revised upwards

This is the third and final estimate of the US Department of Commerce's Bureau of Economic Analysis, which also said real GDP in Q4 last year increased by 3.1%. The marginal increase in Q1 mainly reflected positive contributions from personal consumption expenditures, private inventory investment, exports, and non-residential fixed investment. However, these were partly offset by negative contributions from federal government spending. Earlier this week, the Federal Reserve released its latest economic projections for 2011, lowering the forecast for economic growth to between 2.7-2...