The US economy grew by 2.9% in the fourth quarter, more than expected

Posted on AllSides January 26th, 2023
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The US economy expanded again during the fourth quarter, registering solid growth even as consumers and businesses battled inflation and historically high interest rates.

Gross domestic product — the broadest measure of economic activity — increased at an annualized rate of 2.9% from October to December last year, according to Commerce Department data released Thursday.

That’s a slowdown since summer, when the economy saw growth of 3.2% in the third quarter — but an improvement on the first half of the year, which showed two consecutive quarters of contraction.

Economists were...

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