U.S. REAL GNP ROSE 1.1 PCT IN FOURTH QUARTER The U.S. Gross National Product, after removing the impact of inflation, increased at a revised annual rate of 1.1 pct in the fourth quarter, the Commerce Department said. That was down from an earlier preliminary 1.3 pct rise estimated a month ago and down from the 2.1 pct rise in the fourth quarter of 1985. The final fourth quarter revision, however, left unchanged the previous estimate of a 2.5 pct increase in GNP for all of 1986 over 1985. The revised estimate for fourth quarter GNP partly reflected a downward revision in inventories to a total decrease of 28.5 billion dlrs in the fourth quarter, the department said. The revisions also indicated personal consumption spending decreased 2.2 billion dlrs in the fourth quarter after an increase of 39.6 billion dlrs in the third quarter. Exports of goods and services rose 15.3 billion dlrs after a decline of 9.4 billion dlrs in the third quarter. Imports decreased 700 mln dlrs in the final quarter, in contrast to an increase of 20.9 billion dlrs in the third quarter.