Categories: Economy

US Economy Expands by 3.4% Year-Over-Year in Fourth Quarter with Boost from Consumer Spending and Strong Exports

The US economy experienced growth at a 3.4 per cent annualized rate in the fourth quarter of 2023. This was higher than the 3.2 per cent estimates made a month prior. The Commerce Department noted that this growth was primarily due to upward revisions in consumer spending and nonresidential fixed investment. However, there was a slight offset in private inventory investment, which was revised downward.

Unlock a world of benefits by logging in now! From insightful newsletters to real-time stock tracking, breaking news, and a personalized newsfeed, all of these features are just a click away. With access to these resources, staying informed and making informed decisions about the economy and stock market will be easier than ever before.

editor

Share
Published by
editor

Recent Posts

China’s Moon mission harbors a hidden robot

Images of China's latest lunar mission, Chang’e 6, have been released, showing a small rover…

3 mins ago

Apple issues apology for offensive ad mocking Angry Birds characters and art tools

Apple, a technology company, recently released an ad for its new, thinner iPad tablet computers…

4 mins ago

Major U.S. Health Care Network Suffers Devastating Cyberattack

Late on Thursday, May 9, 2024, Ascension, a prominent U.S. health care system with 140…

5 mins ago

AI-powered Peruvian dictionary translates Spanish to sign language and vice versa

The Pontifical Catholic University of Peru (PUCP) has introduced a new Spanish-Peruvian Sign Language bilingual…

9 mins ago

Chinese companies threaten legal action as the selection of operator for two tram lines in Gush Dan is once again delayed.

NETA, the state-owned company, has once again delayed the tender for the maintenance of the…

10 mins ago

Innovative Technologies for Ensuring Workplace Safety: AI and Innovation for Worker Protection

Implementing predictive maintenance strategies is essential in preventing failures and malfunctions, ultimately reducing the risk…

13 mins ago