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Real GDP was revised up in the fourth quarter, from a 2.8 percent increase to a 3.1 percent gain, according to the third estimate from the Burea of Economic Analysis. The upward revision was primarily a result of an upward adjustment to private inventories that lessened its drag on fourth quarter real GDP growth by 0.3 percentage point. An upward revision to nonresidential fixed investment also bolstered the headline number, as both equipment and software and structures investment were revised up. Notably, structures investment was revised up from 0.9 percent in the advance estimate for the fourth quarter to a 7.7 percent annualized gain currently. On the other hand, export growth was revised down by a percentage point to an increase of 8.6 percent, partially offsetting upward revisions in other areas. Alternative measures of demand—final sales of domestic product (which subtracts inventories) and final sales to domestic purchasers (GDP less net exports and inventories)—were largely unchanged during the revision. The growth rate in final sales of domestic product remained at a robust 6.7 percent gain, while final sales to domestic purchasers ticked up 0.1 percentage point to 3.2 percent.