Fourth-quarter GDP revised lower

WASHINGTON, Feb. 25 (UPI) -- The U.S. government revised the nation's fourth-quarter gross domestic product to 2.8 percent, 0.4 percentage points lower than reported a month ago.

Economists had predicted a slight bump, to 3.3 percent. Instead, the Bureau of Economic Analysis said net exports were lower than previously reported. The gain in personal consumption was also revised to 4.1 percent from 4.4 percent.

Government spending was revised to minus 1.5 percent from minus 0.6 percent.

On the positive side, final sales remained strong at 6.7 percent, the largest jump since the fourth quarter of 1998.