U.S.Economy Grew Solid 3.2% in Fourth Quarter- The U.S. economy grew at a robust 3.2% annual pace from October through December, propelled by healthy consumer spending, the Commerce Department reported February 28 in a slight downgrade from its initial estimate.
The U.S. economy grew at a robust 3.2% annual pace from October through December, propelled by healthy consumer spending, the Commerce Department reported February 28 in a slight downgrade from its initial estimate. The expansion in the nation’s gross domestic product — the economy’s total output of goods and services — slipped from a red-hot 4.9% from July through September. The fourth-quarter GDP numbers were revised down from the 3.3% pace Commerce initially reported last month.
U.S. growth has now topped 2% for six straight quarters, defying fears that high interest rates would tip the world’s largest economy into a recession.
Far from stumbling, the economy grew 2.5% for all of 2023, topping the 1.9%
Source: AP, 02.28.2024
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