This was a big disappointment. The main strength is still exports.

For all of 2007, the economy grew at the weakest pace in five years, rising at an inflation-adjusted 2.2% after a 2.9% gain in 2006. The economy grew 4.9% in the third quarter.

Many -- but not all -- economists believe a recession has now begun, based on data showing declining employment, incomes and industrial production. For the current quarter, economists are predicting no growth.

Gross domestic purchases -- the total value of goods and services bought by U.S. residents -- fell 0.3% in the fourth quarter, the first decline since the last recession quarter in 2001. Final sales of domestic product, including exports, rose 2.1%.