Economy and Markets Close 2023 on Strong Note as Growth Exceeds Expectations
• Economy grew 2.5% in 2023, exceeding expectations of 0.7% growth • Stock indexes closed at record highs as investor optimism grows • Average 401(k) balance rose 11% to $107,700 in third quarter 2023 • Net trading activity in 401(k) plans quieted down compared to prior years • Consumers kept spending in 2023, powering economic and market gains