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Real gross domestic product – the output of goods and services produced by labor and property located in the U.S. – increased at an annual rate of 0.4 percent in the fourth quarter of 2012 (that is, from the third quarter to the fourth quarter), according to the third estimate released by the Bureau of Economic Analysis. In the third quarter, real GDP increased 3.1 percent.
This GDP estimate is based on more complete source data than were available for the second estimate. In the second estimate, real GDP increased 0.1 percent.
Nonresidential fixed investment is higher than previously estimated, but the revision to GDP has not changed the general picture of the economy, according to the BEA.
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