GDP estimate increased to 5.9 percent

The forecast had called for the gross domestic product estimate to fall to 4.9 percent. That proved to be pessimistic in the second of three estimates the department releases.

In the previous quarter, the GDP rose 2.2 percent.

In the fourth quarter, a buildup of business inventories and a 1.7 percent rise in consumer spending helped put the GDP at 5.9 percent. But consumer spending rose slower in the fourth quarter than in the third, which means the buildup of inventories will likely catch up soon with consumer sentiment, which remains relatively weak.

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