Economy

Third revision puts GDP growth back above 3 percent

by Peter Schroeder - 03/25/11 12:48 PM ET

The government’s third take on GDP bumps that figure back above a key level — economists believe that the economy needs to grow at least 3 percent to create enough jobs to meet population growth.

The GDP uptick was driven by personal spending and exports — the fourth quarter saw increases of 4 and 8.6 percent in those areas, respectively. In addition, imports, which subtract from the nation’s GDP, were down 12.6 percent, compared to a 16.8 percent increase in the third quarter of 2010.

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