US economy grew solid 3.2% in fourth quarter, a slight downgrade from government's initial estimate
Source: AP
Updated 9:30 AM EST, February 28, 2024
WASHINGTON (AP) — 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 Wednesday 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% growth in 2022.
Consumer spending, which accounts for about 70% of U.S. economic activity, grew at a 3% annual pace from October through December. Spending by state and local governments rose at a 5.4% annual rate from October through December, fastest pace since 2019. Growing exports also contributed to fourth-quarter growth.
Read more: https://apnews.com/article/economy-inflation-federal-reserve-gdp-unemployment-22f096fe881d4a48314c67d6f4cc67ba
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The U.S. economy grew at a 3.2% annualized rate in Q4, down slightly from the rate estimated a month ago.
https://bea.gov/data/gdp/gross-domestic-product
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8:30 AM · Feb 28, 2024
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and "wage inflation". "Nobody wants to work anymore". Because Biden 
so I went with AP (although AP can be a PITA because they will often update their headlines and story content obsessively 
).
Supposedly I lost my freedoms but I still feel plenty free. Biden actually made America great again. 
