Real GDP increased 0.1 percent after increasing 3.1 percent in the third quarter. Inventory investment turned down, federal government spending fell, and exports turned down. In 2012, real GDP rose 2.2 percent after rising 1.8 percent in 2011.
As part of the 14th comprehensive revision of the NIPAs, to be released in July, a variety of changes will update the accounts to more accurately portray the evolving U.S. economy.
Real GDP increased in 242 of the nation’s 366 metropolitan areas in 2011, reflecting growth in professional and business services, durable-goods manufacturing, and trade.