Consumer spending grew 3.3% in Q4, the fastest clip in some memory and up from 2% in Q3. Non residential fixed investment grew 3.8% vs. 4.8% previously. Government spending fell 12.6% vs. a 1.5% decline in Q3. Real final sales grew 2.8% vs. 2.5% in Q3.
For the year, real GDP increased 1.9% vs. 2.8% in 2012. The price index rose 1.2% vs. 1.7%.
Treasury prices are slightly weaker than before the report, the 10-year yield up three basis points to 2.71%.
This is just the first estimate for Q4 GDP and the revisions are often big ones.