4th Qtr 2009 GDP, 1st Revision

From Calculated Risk and the government:

The headline GDP number was revised up to 5.9% annualized growth in Q4 (from 5.7%), however most of the improvement in the revision came from changes in private inventories. Excluding inventory changes, GDP would have been revised down to around 1.9% from 2.2%.

Not really any encouragement here.  Yes, the overall is revised up 0.2 points, but what really counts for a sustained recovery was actually revised down 0.3 points.   The risk of a stumble and falling into a double-dip recession is looking stronger.