The U.S. economy expanded at a 3.3% annualized pace in the final quarter of 2023‚ the Commerce Department said on Thursday. Why it matters: It's much stronger growth than economists expected and caps a year of economic resilience as the nation avoided a projected recession. The economy moderated in the September-December period compared to the previous quarter's 4.9% growth‚ which got a notable boost from companies building up inventories. The big picture: Economic...

The federal government’s debt grew more than twice the amount that the economy did in the fourth quarter of 2023‚ as measured by gross domestic product (GDP). Real GDP showed above-trend growth in the fourth quarter of 2023‚ rising 3.3% year-over-year‚ equating to a $328.7 billion increase to the U.S. economy‚ according to the Bureau of Economic Analysis (BEA). In contrast‚ the federal government held nearly $33.17 trillion in debt at the end of the third...

The economy grew at a much more rapid pace than expected while inflation eased in the final three months of 2023‚ as the U.S. easily skirted a recession that many forecasters had thought was inevitable‚ the Commerce Department reported Thursday. Gross domestic product‚ a measure of all the goods and services produced‚ increased at a 3.3% annualized rate in the fourth quarter of 2023‚ according to data adjusted seasonally and for inflation. That compared with the Wall Street consensus...

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