Hospital spending hints Q4 GDP may be higher

Hospital revenue increased a seasonally adjusted 3.5 percent after declining 1.5 percent in the third quarter, the Commerce Department said in its Quarterly Services Survey report. The estimate of consumption at hospitals was based on employment, hours and earnings, said Daniel Silver, an economist at JPMorgan in New York. The government estimated fourth-quarter growth at a 3.0 percent pace. It will publish its final reading on March 29, which will estimate spending at hospitals, based on data reported in the Quarterly Services Survey, or the QSS.