According to the second estimate fourth-quarter 2013 GDP report, real GDP rose at an annual rate of 2.4 percent, 0.8 percentage point less than the advance estimate issued last month of 3.2 percent. The second estimate is based on more complete source data than were available for the advance estimate. The revision primarily reflects downward revisions to consumer spending, private inventory investment, exports, and state and local government spending that were partly offset by an upward revision to nonresidential fixed investment.
