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» VISIT US ONLINE @ DSNEWS.COM Vacant Property? Don't let it look like one Before Before After After SecureView manufacturers state-of-the-art polycarbonate window covers that protect SecureView manufacturers state-of-the-art polycarbonate window covers that protect property from intrusion while maintaining the appearance of normal windows. property from intrusion while maintaining the appearance of normal windows. www.secureviewusa.com www.secureviewusa.com secureview-ad-8-5x5-5 2.indd 1 secureview-ad-8-5x5-5 2.indd 1 NATIONAL GDP REVISED UP TO 0.4% FOR Q4 2012 By Mark Lieberman, Chief Economist for the Five Star Institute Real gross domestic product (GDP) rose at an annual rate of 0.4 percent in the fourth quarter of 2012, according to the Bureau of Economic Analysis (BEA). The federal agency's report with its final assessment of Q 4 growth was issued just three days before the end of Q1 2013 and was an improvement over its first two GDP reports, which showed the economy contracted by 0.1 percent then improved by 0.1 percent. Economists surveyed by Bloomberg had expected GDP to grow by a 0.6 percent seasonally adjusted annualized rate. At 0.4 percent, the annualized fourth-quarter growth rate was the weakest since Q1 2011 when the economy expanded by just 0.1 percent. Since the officially declared "end" of the recession in mid-2009, the average annualized quarterly growth rate has been 2.4 percent. BEA, in reporting the revision to Q 4 2012 GDP, said its adjustment was based on more complete source data than were available for the "advance" estimate issued in January or the estimate issued in February. Real personal consumption (adjusted for inflation) increased 1.8 percent from the third quarter of last year to the fourth, slightly higher than the 1.6 percent increase from the second to third quarters. Non-residential fixed investment was up 13.2 percent in the fourth quarter after falling 1.8 percent in the third. The main drag on the fourth-quarter economy—as was cited in the previous two fourth-quarter reports—continued to be government spending. Although the mandated sequester cuts kicked in on March 1, most of the impact has been delayed. Nonetheless, reduced government spending in the fourth quarter, down an estimated $45 billion from the third quarter, subtracted an estimated 1.4 percentage points from overall economic growth. The BEA report also includes estimates of corporate profits in the fourth quarter, showing them at $453.8 billion, down from $457.3 billion in 855-SCRVIEW 855-SCRVIEW 2/5/13 10:12 AM 2/5/13 10:12 AM the third quarter. Full year profits for 2012 were up $51.3 billion after a $2.7 billion loss in 2011. Headline inflation for the GDP price index showed a 2.2 percent annualized inflation rate for 2012, up from 1.8 percent in 2011. Excluding food and energy, inflation was revised to 1.7 percent for 2012, down from 1.9 percent in 2011. KNOW THIS With today's low interest rates, American homeowners' monthly mortgage payments in the fourth quarter of 2012 were almost 37% less than the prehousing-bubble norm, Zillow reports. 31