Revised GDP Comes In Lower Than Advance Estimate Friday, February 28, 11:13 AM ET
According to the Bureau of Economic Analysis, real gross domestic product, defined as the output of goods and services produced by labor and property located in the United States, increased at an annual rate of 2.4 percent in the fourth quarter of 2013, down from the advance estimate of 3.2 percent.
The deceleration in real GDP growth in the fourth quarter reflected a deceleration in private inventory investment, a larger decrease in federal government spending, and downturns in residential fixed investment and in state and local government spending that were partly offset by accelerations in exports, in PCE, and in nonresidential fixed investment and a deceleration in imports.
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