GDP growth rate revised down slightly to still-strong 3.2% for fourth quarter of 2023
By
Zachary Halaschak
February 28, 2024 8:32 am
Economic output growth for the fourth quarter of 2023 was revised down by a tenth of a percentage point to a 3.2% seasonally adjusted annual rate, showing that commerce remained brisk to end the year despite the difficulties created by the Federal Reserve‘s interest rate policies.
The new data, adjusted for inflation, were published Wednesday by the Bureau of Economic Analysis in its report for gross domestic product for the fourth quarter and for all of last year. The data showed the economy expanded 2.5% for all of 2023.
The Bureau of Economic Analysis releases three revisions to its GDP estimates, with the final one coming in March.
The report shows that the economy fared much better in 2023 than was expected. Earlier in the year, officials at the Fed were projecting that GDP growth would only grow minimally.
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https://www.washingtonexaminer.com/policy/finance-and-economy/2892079/gdp-growth-rate-revised-down-slightly-to-still-strong-3-2-for-fourth-quarter-of-2023/
