Fourth quarter GDP revised upwards but does it matter?

New figures from the Commerce Department released today, March 25, show that the U.S. economy grew at a 3.1% annual rate in the fourth quarter of 2010. Nice to have, I guess, but so much has changed for the U.S. economy since the end of 2010 that I don’t know that an upward revision in fourth quarter U.S. GDP growth means much of anything.