TREASURIES-Yields fall after GDP data unrevised for fourth quarter

* Yields fall after fourth quarter GDP wasn't revised up

higher as expected

* Consumer confidence data watched on Friday

* Fed Chair Yellen due to speak later on Friday

By Karen Brettell

NEW YORK, March 27 (Reuters) - U.S. Treasury yields fell on

Friday after data showed that U.S. economic growth cooled in the

fourth quarter as previously estimated, disappointing traders

that had expected an upward revision.

Gross domestic product expanded at a 2.2 percent annual

rate, unrevised from last month's forecast, the Commerce

Department said on Friday in its third GDP estimate. The economy

grew at a 5 percent rate in the third quarter.

Robust consumer spending, however, limited the slowdown in

the pace of activity.

"It was disappointing because the headline was expected to

be revised up and it wasn't. The most important component,

personal consumption, was revised higher, however, and that was

expected," said Lou Brien, a market strategist at DRW Trading in

Chicago.

Benchmark 10-year notes were last up 2/32 in

price to yield 1.98 percent, down from 2.00 percent late on

Thursday.

Weakening data in the past few weeks has added to concerns

that first quarter growth will be tepid. Also, a more

dovish-than-expected Federal Reserve last week has also led

economists to push back expectations of when the U.S. central

bank is likely to begin raising interest rates to September.

That has sent yields lower, but light demand this week for

the U.S. government's auctions of five-year and seven-year notes

also suggests that investors are less willing to buy bonds at

current valuations.

Consumer sentiment data to be released at 10:00 EDT (1400

GMT) will be watched for further economic signals, and Fed Chair

Janet Yellen is also due to speak at a San Francisco conference

later on Friday.

The next major release for the market will be next week's

employment report for March. Job gains for the past few months

have been strong but some economists say that job growth is

outpacing other economic measures, which may mean they have to

slow if economic activity does not accelerate.

(Editing by Chizu Nomiyama)