Q4 GDP revised up from slightly negative to slightly positive

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Politics,Beltway Confidential,Opinion,Philip Klein

In a revised estimate, the U.S. Department of Commerce announced on Thursday that the nation’s economy grew at a snail’s pace of 0.1 percent in the fourth quarter of 2012, a slight upward revision from last month’s estimate that the economy actually shrunk by 0.1 percent.

According to the Department of Commerce’s Bureau of Economic Analysis:

The increase in real GDP in the fourth quarter primarily reflected positive contributions from personal consumption expenditures (PCE), nonresidential fixed investment, and residential fixed investment that were partly offset by negative contributions from private inventory investment, federal government spending, exports, and state and local government spending. Imports, which are a subtraction in the calculation of GDP, decreased.

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