Real GDP increased 3.2 percent after increasing 4.1 percent in the third quarter. Business investment slowed, federal government spending decreased more than in the third quarter, and residential investment turned down. Consumer spending and exports picked up.
The revised statistics show that economic growth in 2012 was widespread; 20 of the 22 major industry groups contributed to the 2.8 percent increase in real GDP. Leading contributors were professional and business services; finance, insurance, real estate, rental, and leasing; mining; and manufacturing.