Final domestic demand was up 0.6%, compared with a 0.2% gain the previous quarter. Household and government final consumption expenditures and business fixed capital investment all increased. Inventory investment slowed sharply from the third quarter. Imports were down, while exports increased slightly.
Mining and oil and gas extraction was the main source of industrial growth in the fourth quarter. Construction, the public sector, utilities and the finance and insurance sector also increased. Manufacturing recorded a significant decrease (-2.2%), with both durable and non-durable goods production retreating. The arts and entertainment sector, transportation and warehousing as well as wholesale trade also declined.
Expressed at an annualized rate, real GDP expanded 0.6% in the fourth quarter. By comparison, real GDP in the United States grew 0.1%.