US Economy Grows at Impressive 3.3% in 2023
Real GDP’s Q4 growth estimated at 4.9% while GDP at current dollar rose 6.3 percent, or $1.61 trillion
The U.S. economy grew at a robust annual rate of 3.3 percent in the fourth quarter of 2023, according to the "advance" estimate the Bureau of Economic Analysis has released.
The real GDP’s growth in 2023 Q4 per se was 4.9 percent, according to the GDP estimate released by the BEA based on source data that are incomplete or subject to further revision by the source agency.
The strong growth is a continuation of robust industrial production increases driven by auto manufacturing rebound
The increase in real GDP reflected a rise in consumer spending, exports, state and local government spending, nonresidential fixed investment, federal government spending, private inventory investment, and residential fixed investment, the press release said. Imports also increased. The estimated value of both services and goods increased.
