The US economy grew at an annualized pace of 2.9% in the final months of 2022, the Commerce Department said in a preliminary estimate on Thursday
WASHINGTON (Pakistan Point News / Sputnik - 26th January, 2023) The US economy grew at an annualized pace of 2.9% in the final months of 2022, the Commerce Department said in a preliminary estimate on Thursday.
"Real gross domestic product (GDP) increased at an annual rate of 2.9 percent in the fourth quarter of 2022 (table 1), according to the "advance" estimate released by the Bureau of Economic Analysis. In the third quarter, real GDP increased 3.2 percent," the department's Bureau of Economic Analysis said in a statement.
Real GDP in 2022 rose by 2.1%, compared with a growth rate of 5.9% in 2021, the statement said.
