US economy grew 2.3% in fourth quarter, Commerce Department says

The U.S. economy grew at a rate of 2.3% in the fourth quarter, in line with the prior reading and economists’ expectations.

The Commerce Department’s Bureau of Economic Analysis (BEA) released its first revision of the estimate for fourth quarter gross domestic product (GDP), which found the U.S. economy grew at an annual rate of 2.3% in the fourth quarter, which runs from October through December.

Economists surveyed by LSEG had expected the economy to grow at a 2.3% rate in the quarter. The BEA’s preliminary estimate of GDP in the quarter that was released last month also came in at 2.3%, though economists expected 2.6% growth at the time.

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