First-Quarter GDP Revised Up to 0.7%

The U.S. economy grew by 0.7% in the first quarter, the slowest growth in four years, the Commerce Department said Thursday.

The gross domestic product rate was revised from an earlier 0.6% reading. GDP for the fourth-quarter of 2006 grew at 2.5%.

The upturn fell short of the 0.8% predicted by analysts, Bloomberg reported.