'The United States' slightly reduced fourth quarter GDP growth to 3.2%.

[Yuneaway]

'The United States' slightly reduced fourth quarter GDP growth to 3.2%.

The US Department of Commerce's Bureau of Economic Analysis fourth quarter 2023 Gross Domestic Product (GDP) data report (second estimate) shows the GDP of -fourth quarter of 2023 increased by 3.2% year on year. This number decreased slightly compared to the previous report of 3.3%.

A Reuters poll of economists had previously forecast no revision to the GDP figure in the fourth quarter of 2023 but a slight revision to the GDP figure. This reflects a reduction in private sector investment in inventories.

Previously, the United States announced that the economy grew by 2.2%, 2.1% and 4.9% in the first quarter, the second quarter and the third quarter, respectively, while the growth rate for the whole year of 2023 was 2.5% from 1.9% in 2022.

The Federal Reserve Bank of Atlanta said its latest GDPNow forecast model shows the US economy growing 3.2% in the first quarter of 2024.

The United States saw a slight decline in fourth quarter GDP figures although consumer spending remained strong. Last week the Labor Department released the Consumer Price Index (CPI), a measure of inflation from consumer spending, for January It appears that the core CPI (core CPI), which includes the food and energy category, increased by 3.1%. in January .July on an annual comparison Beat analysts' expectations of 2.9% from 3.4% in December.