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Author Topic: 'The United States' slightly lowers Q4 GDP growth to 3.2%.  (Read 162 times)

EebaraGin

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'The United States' slightly lowers Q4 GDP growth to 3.2%.

Bureau of Economic Analysis under the U.S. Department of Commerce The Gross Domestic Product (GDP) data report for the 4th quarter of 2023 (2nd estimate) indicates that GDP in the 4th quarter increased 3.2% year-on-year. This is slightly down from the previous report of 3.3%.

A Reuters survey of economists previously predicted that There will be no adjustment of the GDP number in the 4th quarter of 2023, but from this slight adjustment of the GDP number. This reflects a contraction in investment in private sector inventories.

Previously, the United States reported that The economy expanded 2.2%, 2.1% and 4.9% in the first, second and third quarters, respectively, while full-year growth in 2023 was 2.5% from 1.9% in 2022.

The Federal Reserve Bank of Atlanta said its latest GDPNow forecast model shows that The US economy grew 3.2% in 1Q2024.

The US slightly lowered its 4Q GDP numbers even though consumer spending remained strong. By last week The Ministry of Labor released the Consumer Price Index (CPI), which is a measure of inflation from consumer spending, for the month of January. It appears that the Headline CPI (Headline CPI), which includes food and energy categories, increased 3.1% in January. .July when compared yearly Higher than analysts' expectations of 2.9% from 3.4% in December.



 

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