U.S. services data suggests upward revision to fourth quarter growth: JPMorgan

U.S. economic growth for the fourth quarter is likely to be revised higher after data on Wednesday showed a stronger pace of consumer spending on services than previously estimated, according to JPMorgan. It said the Commerce Department's quarterly services survey, or QSS, showed consumption on services increased at a faster clip than the government had assumed in its second estimate of gross domestic product published last month. JPMorgan economist Daniel Silver said the QSS data suggested four