US economic growth revised up to 2.6%

The US abridgement grew at an annualised clip of 2.6% in the third division of 2010, hardly faster than the antecedent appraisal of 2.5%, abstracts accept shown.However, the amount was lower than expectations, with some analysts assured a amount afterpiece to 3%.Earlier this month, the US Federal Reserve said the US accretion was still too apathetic to accompany bottomward the country's aerial akin of unemployment.Separately, abstracts showed home sales continuing to recover.Sales of previously-owned homes rose by 5.6% in November compared with the antecedent month, to a seasonally adapted anniversary amount of 4.68 actor units aftermost month, according the National Association of Realtors.However, the access was beneath than analysts had hoped for, and all-embracing sales were bottomward 27.9% from a year ago.The GDP abstracts from the Commerce Department showed that the third-quarter advance amount was revised up afterwards an access in the clip of businesses architecture up inventories.However, this access was account by a bottomward afterlight to customer spending, which grew at an anniversary clip of 2.4% in the quarter, bottomward from a antecedent appraisal of 2.8%.Consumer spending is watched carefully as it accounts for about 70% of the US economy's absolute bread-and-butter output.