Final domestic demand rose 0.3 percent in the fourth quarter, as household and government final consumption expenditure increased while business gross fixed capital formation declined. This was the second consecutive quarter that final domestic demand grew at a slower pace than real GDP.
Household final consumption expenditure advanced 0.8 percent, led by increased spending on services and non-durable goods. Outlays on semi-durable goods were also higher.
Business gross fixed capital formation declined 0.5 percent after increasing 0.3 percent in the third quarter. Business investment in residential and non-residential structures were both lower, while outlays on machinery and equipment were higher.
Business investment in inventories was $18.1 billion in the fourth quarter, up from $12.4 billion in the third quarter. Non-farm inventories accounted for most of the added stock.
Exports rose 0.4 percent after a flat third quarter. Imports increased 0.2 percent after declining the previous quarter.
For 2013 as a whole, the GDP grew by 2.0 percent from 2012 after increasing by 1.7 a year earlier.