Economic Growth in the US in the Fourth Quarter, Increased at Annual Rate of 3.2%

28 February 2024

US Real gross domestic product (GDP) increased at an annual rate of 3.2 percent in the fourth quarter of 2023, according to the "second" estimate released by the Bureau of Economic Analysis. In the third quarter, real GDP increased 4.9 percent. Real GDP increased 2.5 percent in 2023, compared with an increase of 1.9 percent in 2022.

The increase in real GDP reflected increases in consumer spending, exports, state and local government spending, nonresidential fixed investment, federal government spending, and residential fixed investment that were partly offset by a decrease in private inventory investment.

Source: U.S. Department of Commerce
Post by: Republic of Türkiye Ministry of Trade