The U.S. economy grew at a robust annual pace of 3.2 percent from October to December, driven by strong consumer spending.
According to the Commerce Department report, GDP growth fell from 4.9 percent in the July-September period. The fourth-quarter GDP figures were revised downward from the 3.3 percent pace announced by the Commerce Department. U.S. growth has exceeded 2 percent for six consecutive quarters, defying fears that higher interest rates could push the world's largest economy into recession. The economy grew by 2.5 percent throughout 2023, surpassing the 1.9 percent growth achieved in 2022.
Source (Al-Sharq Al-Awsat Newspaper, Edited)
