The US economy expanded during the fourth quarter, posting solid growth even as consumers and businesses battled inflation and historically high interest rates.
Gross domestic product – the broadest measure of economic activity – rose at an annualized rate of 2.9% from October to December last year, according to Commerce Department data released on Thursday.
It’s a slowdown from the third quarter, when the economy posted 3.2% growth — but an improvement from the first half of the year, which saw two consecutive quarters of contraction.
Economists had expected fourth-quarter GDP to grow at an annualized adjusted rate of 2.6%.
In 2022, GDP grew by 2.1%, according to a report by the Department of Commerce.
This story is developing and will be updated.
*In update
Source: CNN Brasil
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