U.S. Economy Beats Expectations with 3.3% GDP Growth in Q4 Backed by Consumer Spending
- U.S. GDP expanded at a 3.3% rate in Q4, beating estimates of 2% growth
- Robust consumer spending and higher government expenditures drove GDP growth
- Inflation showed signs of easing, with PCE price index rising 2.7% annually
- Concerns remain about impact of past Fed rate hikes and consumer spending outlook
- Stock indices edge higher in early trading following positive GDP report