U.S. GDP rose 2.9% in the fourth quarter, more than expected even as recession fears loom

Posted on AllSides January 26th, 2023
From The Center
Luke Sharrett/Bloomberg

The U.S. economy finished 2022 in solid shape even as questions persist over whether growth will turn negative in the year ahead.

Fourth-quarter gross domestic product, the sum of all goods and services produced for the October-to-December period, rose at a 2.9% annualized pace, the Commerce Department reported Thursday. Economists surveyed by Dow Jones had expected a reading of 2.8%.

The growth rate was slightly slower than the 3.2% pace in the third quarter.

Stock market futures rose following the report while Treasury yields were mostly higher as well.

Consumer spending,...

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