The first reading shows a slowdown in the US economy compared to the previous quarter
OR Gross domestic product (GDP) of WE in the fourth quarter of 2023 it grew by 3.3% in an annual comparison, according to a first calculation released on Thursday 25th by the country’s Department of Commerce. The result was higher than the estimates of the analysts consulted by Projeções Broadcast/Estadãowhich ranged from 1% to 2.8% increments, with a median of 2%.
The first reading, however, shows a slowdown in the American economy compared to the third quarter of 2023, when US GDP had an annualized expansion of 4.9%.
During 2023, US GDP showed cumulative growth of 2.5%, higher than the 1.9% increase over the same period in 2022.
The Commerce Department also reported that the Consumer Expenditure Price Index (PCE) increased at an annualized rate of 1.7% in the fourth quarter, losing momentum after rising 2.6% in the third quarter. Core PCE, which excludes food and energy prices, increased 2% between October and December, repeating the change from the previous quarter.
The PCE is the government’s preferred measure of inflation. Federal Reserveor Fed, as it is known American central bank.
Source: Terra
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