Fourth Quarter Economic Strength
In the fourth quarter of 2023, the US economy exhibited a solid growth rate of 3.4%, an upward revision from an initial estimate of 3.2%. This growth, albeit a slight reduction from the previous quarter’s 4.9%, signals a steady economic environment, achieved against the backdrop of rising interest rates. The boost was mainly due to increased consumer spending, exports, and business investments in infrastructure and software.
Annual and Quarterly Perspectives
Over the full year of 2023, the US economy expanded by 2.5%, showing improvement from 2022’s 1.9%. Despite the Federal Reserve’s series of rate hikes starting in March 2022, the economy maintained its expansionary path. Presently,…
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