Posted 2/28/2024, 1:31:00 PM
U.S. Economy Still Strong in Q4 Despite Slower Business Investment and Inventory Rebuilding
- U.S. economic growth rate for Q4 2022 revised down slightly to 3.2% from 3.3%, but still showing strong expansion
- Growth driven by resilient consumer spending, aided by strong job market
- Business investment weaker than initially thought, slowing inventory rebuilding
- Mild inflation in Q4, core rate near Fed's 2% target
- Economy showing few signs of major slowdown despite higher interest rates