US economy grew at a shocking pace in the fourth quarter

from CNN

Washington, DC — 

The US economy remained shockingly robust in the fourth quarter to close out a remarkably strong 2023 as consumers and businesses continued to spend, crushing expectations of a recession.

Gross domestic product, the broadest measure of economic output, rose at a seasonally and inflation-adjusted annualized rate of 3.3% from October through December, the Commerce Department reported Thursday.

That was slower than the blistering 4.9% rate from July through September, when American consumers splashed out on services and goods. Growth in 2023 overall, from January through December of last year, registered at a robust 2.5% rate.

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