A trader works on the floor of the New York Stock Exchange on November 28, 2012 in New York City. - 

The Commerce Department has revised up its estimate of GDP growth for the previous quarter to 2.7 percent. The initial calculation one month ago had the U.S. economy growing at a rate of two percent.

Diane Swonk, chief economist at Mesirow Financial shares the details behind the upward revision, why the numbers may not be as good and they seem, and what we can expect going forward.