In the third quarter, the trading account hit its peak for the year at $371 million in revenues; the fourth-quarter figure was $245 million.

The fourth-quarter figure brought total online ad spending last year to an estimated $9.6 billion, up 32 percent from 2003, the bureau said.

He was holding bilateral meetings with other ministers today to see if the fourth-quarter figure could be reduced.

The fourth-quarter figure, announced Tuesday, was inflated by several one-time gains.

The Commerce Department is due to release fourth-quarter figures on gross national product tomorrow.

It reported losses equal to $1.23 a share for the first nine months of 1989, but has not yet released fourth-quarter figures.

After the market closed, America Online released fourth-quarter figures that also beat estimates.

Joining them was Carnival, with the cruise operator sinking 6p to £21.30 after fourth-quarter figures disappointed investors.

Economists said the nearly flat fourth-quarter figures coincided with the nation's slide into a recession.

Excluding the nonrecurring items, last year's fourth-quarter figures would have jumped by 21 percent, to $49.6 million.