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mpc: 16 Consumption growth in the fourth quarter had been revised up by 0.1 percentage points to 0.8%, accentuating the picture of a sharp rebound in consumption since the standstill at the beginning of 2005. Although post-tax labour income had been relatively strong in Q4, weak property income growth meant that the savings ratio had declined. Government consumption and net trade had been reasonably strong. Investment, although upwardly revised, had fallen slightly on the quarter. Overall the expenditure data for the fourth quarter had been stronger than the output data ­ with the difference accounted for by de-stocking (including a large contribution from the alignment adjustment to make the Quarterly National Accounts consistent).