Economic Growth Surprises Analysts in Fourth Quarter of 2023, Boosting Stock Market Performance

US Economy Expands by 3.4% Year-Over-Year in Fourth Quarter with Boost from Consumer Spending and Strong Exports

The US economy experienced growth of 3.4% in the fourth quarter of 2023, higher than the previously estimated 3.2%. The Commerce Department attributed this growth to upward revisions in consumer spending and nonresidential fixed investment. However, there was a slight offset in private inventory investment, which was revised downward.

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