:strip_icc()/s02.video.glbimg.com/x720/12590689.jpg)
The reading shows a significant slowdown in the US economy compared to the third quarter of 2023
US gross domestic product (GDP) grew at an annualized rate of 3.2% in the fourth quarter of 2023, according to a review published Wednesday (28) by the country's Commerce Department. The result was below the initial estimate and the forecast of analysts polled by FactSet, a 3.3% increase in both cases.
Want to know what the pros are investing in? Sign up to receive recommendations from analysts and managers interviewed by Financial Intelligence in your email.
By signing up, you agree to the Terms of Use and receive our free daily and weekly newsletters.
Compared to the third quarter of 2023, when US GDP had an annualized expansion of 4.9%, the reading shows a significant slowdown in the US economy.
For the full year 2023, US GDP showed growth of 2.5%, after a 1.9% increase in 2022, estimated a month ago.
The Commerce Department reported that the Consumer Expenditure Index (PCE) rose at an annual rate of 1.8% in the fourth quarter, losing momentum after rising 2.6% in the third quarter.
Excluding food and energy prices, they rose 2% in the previous quarter and rose 2.1% between October and December.
In the first calculation, annualized gains for PCE and its core in the fourth quarter are estimated at 1.7% and 2%, respectively.
PCE is the preferred inflation measure of the Federal Reserve, or the Fed, also known as the US Federal Reserve.
with the information that Estado content
Financial Intelligence is a journalistic channel and this content should not be construed as a recommendation to buy or sell investments. Before investing, check your investor profile, your objectives and always be well informed.
“Internet evangelist. Writer. Hardcore alcoholaholic. Tv lover. Extreme reader. Coffee junkie. Falls down a lot.”
More Stories
UK may offer to deport refugees to Rwanda
Northern Lights: What explains their rare appearance in the UK
Major Minerals: Brazil may be an important supplier to the US