Econ­o­my grew 3.4% in fourth quar­ter, remain­ing strong despite high­er inter­est rates

Economy grew 3.4% in fourth quarter, remaining strong despite higher interest rates

Gross domes­tic prod­uct growth in the fourth quar­ter was revised up to an 3.4% sea­son­al­ly adjust­ed annu­al rate, show­ing the econ­o­my end­ed 2023 on a stronger foot­ing than pre­vi­ous­ly real­ized.
The new data, adjust­ed for infla­tion, were pub­lished Thurs­day by the Bureau of Eco­nom­ic Analy­sis in its report for gross domes­tic prod­uct for the fourth quar­ter and for all of last year. The data showed the econ­o­my expand­ed 2.5% for all of 2023.
This was the third and final revi­sion for both the fourth quar­ter and all of last year, mean­ing that these rep­re­sent the final GDP fig­ures.
Data for the fourth quar­ter were revised up from the pre­vi­ous esti­mate while the over­all GDP read­ing for last year was remained the same.
Thursday’s fina …