The Bureau of Economic Analysis released an advanced, estimated measure of inflation-adjusted (“real”) gross domestic product (GDP) for the fourth quarter of 2005. The complete text of the release can be found at http://www.bea.doc.gov/bea/dn/home/gdp.htm.   In the 3rd quarter of 2005, real GDP grew at a 4.1% annualized rate.  Fourth quarter growth was substantially lower than the consensus expectation of 3.0% due largely to an unforeseen drop in government defense spending. The BEA also emphasized that the advanced estimate was based on data that is either incomplete or is subject to further revision. Many analysts expect fourth quarter GDP to be revised upward in the preliminary release scheduled on February 28, 2005.