WASHINGTON, D.C.: US economic growth was slightly weaker than previously estimated in the fourth quarter (Q4) last year, according to government data released on Wednesday, due mainly to a downward revision to business investment. Gross domestic product (GDP) growth in the world's biggest economy was revised to an annual rate of 3.2 percent in the final three months of 2023, from an initial estimate of 3.3 percent released last month. While real GDP was revised down, "consumption was stronger in the second estimate," said economist Rubeela Farooqi of High Frequency Economics. "More than the fourth quarter data, the trend in growth and inflation going forward will be important," she added in a note. "We think growth will slow but will remain positive over coming quarters," she said.

Source: Manila Times March 01, 2024 10:11 UTC