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The U.S. economy grew at blistering 3.3% pace in Q4 while inflation pulled back


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WWW.CNBC.COM

GDP was expected to grow at a 2% annualized rate in the fourth quarter of 2023, according to economists surveyed by Dow Jones.
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GDP, a measure of all the goods and services produced, increased at a 3.3% annualized rate in the fourth quarter of 2023. Wall Street had been looking for a 2% gain.

 

The U.S. economy for all of 2023 accelerated at a 2.5% annualized pace, well ahead of the Wall Street outlook at the beginning of the year for few if any gains and better than the 1.9% increase in 2022.

 

A strong pace of consumer spending helped drive the expansion, as did government spending.

 

There also was progress on inflation. Core prices for personal consumption expenditures rose 2% for the period, while the headline rate was 1.7%.

 

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