US Q4 GDP growth revised higher to 3.4% from 3.2%

• US GDP growth for Q4 is revised higher to 3.4% from 3.2%.
• US Dollar Index stays in positive territory above 104.50.

The United States' Gross Domestic Product (GDP) grew at an annual rate of 3.4% in the fourth quarter, the US Bureau of Economic Analysis (BEA) said in its final estimate on Thursday. The BEA reported in its previous estimate that the real GDP growth was 3.2%.

"The update primarily reflected upward revisions to consumer spending and nonresidential fixed investment that were partly offset by a downward revision to private inventory investment," the BEA explained in the press release. 

Market reaction

The US Dollar Index (DXY) showed no immediate reaction and was last seen rising 0.25% on the day at 104.55.