In the fourth quarter of 2023, the US economy grew by 3.2 percent, which turned out to be lower than expectations.
The US Department of Trade has published a second rating of data on gross domestic product (GDP) for October-December 2023.
According to this information, in the fourth quarter of last year, the US GDP grew by 3.2 percent in annual terms. GDP data, which were revised towards the decrease in the specified period, remained lower than the expectations of the market.
The preliminary data on the country’s GDP published in January, it was recorded that in the fourth quarter of last year the economy grew by 3.3 percent.
In the first quarter of last year, the US economy grew by 2.2 percent, in the second quarter – by 2.1 percent, in the third – by 4.9 percent.
In 2023, the growth of the country’s economy was 2.5 percent.
The growth of the US economy in the fourth quarter of last year was due to an increase in consumer expenses, exports, expenses of state and local authorities, non -residential investments in fixed assets, expenses of the federal government and investment in the fixed assets of the housing sector, which was partially compensated by a decrease in private investment in inventories.
Changes in the direction of lowering data on investment in private reserves was partially compensated by a review in the direction of increasing data on the expenses of state and local authorities and consumer expenses.
In the fourth quarter, the growth in the price of the cost of costs for personal consumption was changed towards an increase of 1.7 to 1.8 percent. In the third quarter, index of prices for personal consumption costs increased by 2.6 percent.
The growth of the main index of cost prices for personal consumption, which excludes from the calculation of food and energy costs, was adjusted from 2 percent to 2.1 percent. The main index of costs of costs for personal consumption in the third quarter of the year increased by 2 percent.