US real gross domestic product increased by 6.9 percent in the fourth quarter, reflecting a modest downward revision from the previously estimated 7.0 percent spike, a report released by the Commerce Department on Wednesday showed. The slightly slower than previously estimated GDP growth primarily reflected downward revisions to consumer spending and exports that were partly offset by an upward revision to private inventory investment. Still, it remains the strongest expansion since a record growth of 33.8% in Q3 2020, with private inventories making the biggest upward contribution. Considering full 2021, the US economy expanded 5.7%.
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