GDP Revision Shows Growth in Fourth Quarter

Washington, DC, Feb. 28, 2013 -- The U.S. economy expanded in the fourth quarter of 2012, despite an initial estimate showing slight contraction.

The Commerce Department said the economy grew at an annual pace of 0.1% in the last three months of 2012.

A month ago, the government estimated that the economy shrank at a 0.1% annual rate in the quarter.

The government revised its estimate of private investment in the fourth quarter higher, with bigger gains in housing, business equipment and software sales and commercial real estate than initially reported.