Real GDP increased 0.7 percent after increasing 2.0 percent in the third quarter, reflecting a deceleration in consumer spending and downturns in nonresidential fixed investment, in exports, and in state and local government spending.

This satellite account updates estimates of gross domestic product to account for two types of home production activities: the production of nonmarket services and the return to consumer durable goods.

With the release of these revised historical statistics, BEA completed its goal of developing a fully integrated time series of industry economic accounts that are consistent with the national income and product accounts.