Final GDP Figures Show 3.8% Fourth-Quarter Growth

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he U.S. economy grew at an annual rate of 3.8% in the fourth quarter, the Commerce Department said Wednesday in its final tally of the gross domestic product.

The final GDP figure matched a preliminary estimate released in February and was close to the third-quarter’s 4% growth rate. Some of the main drivers of the economy included consumer spending, inventory building and business investment.

Economists had predicted a 4% gain, Bloomberg reported.

GDP, the total value of goods and services produced, grew to $11 trillion at an annual rate for the quarter after adjusting for inflation, Bloomberg said. It was $10.8 trillion of the full year.

Consumer spending, which accounts for about two-thirds of GDP, grew at a 4.2% annual rate for the quarter, also the same as previously reported. Consumer spending in the third quarter had reached a three-year high of 5.1%.