Q4 GDP revised slightly higher to 4.3% growth

• Q4 GDP (third estimate) +4.3% annualized vs. +4.1% consensus and +4.1% previous estimate.
• Compares with Q3 GDP growth of 33.4% annualized.
• The change reflects an upward revision to private inventory investment that was partly offset by a downward revision to nonresidential fixed investment.
• PCE price index +1.5% vs. +1.5% consensus and +1.6% previous estimate.
• Core PCE price index +1.3% vs. +1.4% consensus and +1.4% previous estimate.
• "The increase in fourth-quarter GDP reflected both the continued economic recovery from the sharp declines earlier in the year and the ongoing impact of the COVID-19 pandemic, including new restrictions and closures that took effect in some areas of the United States," the U.S. Commerce Department said.