US real gross domestic product grew at an annual rate of 1.9% in the fourth quarter, according to the second estimate of GDP growth released today by the US Commerce Department. The new estimate is unchanged from the “advance” estimate.

In the third quarter, real GDP increased 3.5%.

Real GDP grew slower than the median forecast in a Bloomberg survey, which called for a 2.1% advance in the fourth quarter, as slower investment by businesses and state and local agencies offset stronger household purchases. Consumer spending — the biggest part of the economy — rose 3%, more than projected. Bloomberg reported the results reinforce the leading role that consumers continue to play in the current expansion, helped by a tight job market, low borrowing costs and rising confidence.