Posted 2/28/2024, 3:51:26 PM
U.S. Economy Grew 3.2% in Q4 Supported by Consumer Spending But Slowed by Trade Deficit
- U.S. economy grew at 3.2% annual rate in Q4, fueled by strong consumer spending
- Growth revised down slightly from previous 3.3% estimate due to lower inventory investment
- Inflation remained mild, with core PCE price index rising 2.1%
- Business investment was mixed - spending on structures rose but equipment investment fell
- Goods trade deficit widened in January as import growth outpaced small rise in exports
