Real GDP decreased 6.3 percent after decreasing 0.5 percent in the third quarter, reflecting a downturn in exports and a larger decrease in investment in equipment and software. Corporate profits fell 16.5 percent, the largest drop since the fourth quarter of 1953.

Net government saving decreased $11.3 billion to –$658.9 billion. Net federal government saving decreased $17.5 billion to –$561.5 billion. Net state and local government saving increased $6.2 billion to –$97.4 billion.

These statistics, including those for inventories for manufacturing by stage of fabrication, have been updated.

The current-account deficit decreased to $132.8 billion from $181.3 billion in the third quarter, mainly reflecting a decrease in the deficit on goods. In 2008, the deficit decreased to $673.3 billion from $731.2 billion in 2007.

State personal income statistics for the fourth quarter of 2008 and annual statistics for the year 2008, a look at regional multipliers, and a summary of three widely used measures of personal income.

• Regional Multipliers: What Are They and How Are They Used