U.S. Economy Growth in 2023

SOURCE www.breitbart.com
The U.S. economy ended last year with stronger growth than previously thought, with GDP growing at a 3.4 percent annualized rate in the final quarter of 2023. Consumer spending also rose at a faster pace of 3.3 percent. Inflation remained stable, and Gross Domestic Income increased by 4.8 percent.

Key Points

  • GDP grew at a 3.4 percent annualized rate in Q4 2023
  • Consumer spending increased by 3.3 percent
  • Gross Domestic Income rose by 4.8 percent
  • Economic growth driven by various factors including consumer spending and government spending

Pros

  • Stronger-than-expected economic growth in the U.S.
  • Increase in consumer spending and nonresidential fixed investment
  • Stable inflation rates

Cons

  • Downward revision in core PCE inflation from the previous estimate