Update: Q4 GDP Up 0.1%
Feb 28th 2013 2:08PM
Updated Feb 28th 2013 3:05PM
Real GDP growth oozed forward at an annual rate of 0.1% for Q4 2012, according to a Commerce Department report [link opens in PDF] released today. While the report shows a brighter picture than the Department's initial estimate of a 0.1% decrease for the fourth quarter, it clocks in far behind analyst expectations of a 0.5% bump.
After Q3 2012's 3.1% growth rate, these newest numbers don't support signs of a quickly improving economy.
After increasing 1.9% in Q3, exports fell 3.9% for the fourth quarter. Government spending also declined, dropping 14.8% after a 9.5% bump in the third quarter. Inventories knocked 1.55 percentage points off GDP growth.
Personal spending bumped up 2.1%, while fixed investment led fourth-quarter improvements. Nonresidential fixed investment increased 9.7%, while residential fixed investment jumped 17.5%.
A third estimate of Q4 GDP is expected to be released on March 28.
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