http://money.cnn.com/2013/03/28/news/economy/gdp-report/index.html?iid=SF_E_River
According to the government's third and final report on the fourth quarter of 2012, the US economic growth was weak at the end of 212 but still better than previously expected. Many factors played a role in this surprising increase: stronger construction activity, stronger exports. However, on the flip side, due to the fear of the fiscal cliff cut back in the fourth quarter, businesses began to cut back on inventories of goods. And the government also reduced spending in defense (these two factors eliminated nearly 3 percentage points of growth from GDP). But anyway, the worst economic hit of the fiscal cliff was avoided. And growth appears to be fairly solid so far this year -- thanks to a strong housing recovery, improved hiring by businesses, and a pickup in car sales and consumer spending. Things finally are looking better now.
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