The U.S. economy grew at an annual rate of 0.4 percent in the fourth quarter, up 0.1 percent from an earlier estimate last month, according to the U.S. Department of Commerce.
In the third quarter, the nation’s output of goods and services increased 3.1 percent.
The government’s first estimate, which used preliminary data, had Gross Domestic Product at negative 0.1 percent.
Exports contributed to the weak quarter. Foreign sales decreased 2.8 percent in the last three months of 2012, compared to a 1.9 percent increase in the third quarter. Imports, which technically count against domestic growth calculations, decreased 4.2 percent compared with a 0.6 decrease in the third quarter.
Lower accumulation of inventory also led to the slowdown, Commerce said. – Eric Kulisch
4Q U.S.GDP grew faster than previously estimated
