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By Greg Robb
WASHINGTON (MarketWatch) - U.S. real gross domestic product for the fourth quarter rose at a 3.0% annualized rate, unrevised from the earlier estimate, the Commerce Department said Thursday. Economists surveyed by MarketWatch expected second-quarter growth to be revised up to a 3.2% rate. A downward revision to exports was offset by stronger business investment in software. Consumer spending rose 2.1% in the fourth quarter, unrevised from prior estimates. A key measure of inflation, the core personal consumption index, which excludes food and energy prices, increased 1.3%, also unrevised from prior estimates. Corporate profits before-tax fell 0.4% quarter-to-quarter, down from a 1.2 % rise in the third quarter. This is the first quarterly decline in profits since the fourth quarter of 2010.
