The deceleration in real GDP growth in the fourth quarter primarily reflected a deceleration in PCE, an acceleration in imports, a downturn in federal government spending, and decelerations in equipment and software and in residential fixed investment that were partly offset by an upturn in private inventory investment.
Final sales of computers contributed 0.33 percentage point to the fourth-quarter growth in real GDP after contributing 0.16 percentage point to the third-quarter growth.
Motor vehicle output subtracted 0.58 percentage point from the fourth-quarter growth in real GDP after contributing 0.56 percentage point to the third-quarter growth.
The price index for gross domestic purchases, which measures prices paid by US residents, increased 3.3 percent in the fourth quarter, compared with an increase of 4.2 percent in the third.
Excluding food and energy prices, the price index for gross domestic purchases increased 2.9 percent in the fourth quarter, compared with an increase of 2.5 percent in the third.
Bureau of Economic Analysis
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