Final GDP Estimate Revised Higher

Washington, DC, March 28, 2013 -- The U.S. economy grew 0.4% in the fourth quarter, an anemic pace that was still above the initial estimate showing contraction, according to the Commerce Department.

An improving employment picture, continued consumer spending, and an improving housing market likely drove the revised number.

Despite the improvement, it was the weakest quarterly performance in almost two years.

For all of 2012, the economy grew 2.2% after a 1.8% increase in 2011 and a 2.4% advance in 2010.