U.S. Gross Domestic Product fell at an annual rate of 0.1% (quarter-over-quarter) in the October-December period. Fourth quarter GDP was weighed down by a 15% drop in federal government spending, a 5.7% decline in net exports, and a drop in private inventory investment. On a positive note, personal consumption rose by 2.2%, while nonresidential fixed investment jumped by 8.4%. The second estimate will be released on February 28th, 2013.
