The overall economy declined slightly (at a -0.1 percent annual rate) in the fourth quarter of 2012, offsetting an above-average pace of growth in the previous quarter. Spending for inventories, government defense, and net exports all fell—reversing the growth in the third quarter—and offset the positive gains in consumer spending, nonresidential investment, and residential investment. However, this does not portend another recession, according to a report from the Manufacturers Alliance for Productivity and Innovation (MAPI)....
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