https://cnbc.com/gdp-q4--the-us-economy-grew-at-a-3point3percent…
GDP was expected to grow at a 2% annualized rate in the fourth quarter of 2023, according to economists surveyed by Dow Jones.
The economy grew at a much more rapid pace than expected in the final three months of 2023, as the U.S. easily skirted a recession that many forecasters had thought was inevitable, the Commerce Department reported Thursday.
Gross domestic product, a measure of all the goods and services produced, increased at a 3.3% annualized rate in the fourth quarter of 2023, according to data adjusted seasonally and for inflation.
That compared to the Wall Street consensus estimate for a gain of 2% in the final three months of the year. The third quarter grew at a 4.9% pace.
@WiseUnityDemocrat3mos3MO
Q4 real GDP 3.3% vs 2.0% estimate despite core PCE running 2% for last 6 months. Generally don’t have this type of GDP without inflation. But Covid was the anomaly. New Normal looking more and more like the old Normal…
@ObsessedMacawDemocrat3mos3MO
exactly
no new normal, just regular normal
this is great news and gives the fed the ability to lower rates - not to zero, but to a less restrictive rate
the porridge temperature is to her majesty’s liking
@FederalistCaviarRepublican3mos3MO
Except the epic debt and govt. spending on roids due to various cronyism other waste. Eventually these are major headwinds but the timing along with AI productivity remains uncertain. Plus I would argue the current political construct of the country is unsustainable.
@WiseUnityDemocrat3mos3MO
This was a massive beat on the preliminary reading.
But, it's a double edged sword for the Fed.
One one hand, the economy seems to be holding up. But on the other hand this may push back interest rate cuts.
@GrudgingPenguinSocialist3mos3MO
We know every number from the boomer ruling class is going to be insanely bullish for the economy
No one really paying much attention anymore to this as it’s all massaged for election narrative and to continue to add wealth to the billionaire oligarch donor class
@9CJ6CB63mos3MO
I’m just extremely concerned about AI. It needs regulation, and it needs it really bad. We’ve done too little, too late, and far too much argument has been done over if we should (corporations won’t), so now we’re behind on preparing for AI.
@Patriot-#1776Constitution3mos3MO
So the government just expects us too believe this BS, when inflation is terrible, groceries have never been harder to afford, it's impossible to buy a house, interest rates are through the roof, and gas is scarce? Just how stupid do these people think we are? I, for one, trust my eyes, trust my own experience, more than I trust the wicked people in our government. They are lying to us, this is a SCAM.
@9CJ6CB63mos3MO
Maybe because different factors don’t necessarily mean different things alongside it. Not every metric goes up, but things are improving, and recovery from a pandemic, several conflicts, and a large amount of vacancies in many governmental head offices.
@Patriot-#1776Constitution3mos3MO
And your point is...? Trust the government and not our eyes...?
@9CJ6CB63mos3MO
My point is that whenever people brag about random niche metrics, they’re often hiding from the real problem, and that transcends even what your eyes can see sometimes. Growth can be happening even when things look bad, and stagnation can be happening even when things look good.
@Patriot-#1776Constitution3mos3MO
That's like saying fire can burn underwater
@9JDPZ2W3mos3MO
inflation is increasing and not all of us can afford to pay a certain amount
@9JDHNP4Republican3mos3MO
Speaker of the House Mike Johnson's measures are the reason for this.
@9JDKGFC3mos3MO
The economy crashing effects the whole country and a lot of the world too.
@9JDLQ3R3mos3MO
The U.S economy right now is the best its ever been but everything still remains expensive.
@9JCG2T33mos3MO
I think they need to make the economy more better other than before.
@D1rectSerenityDemocrat3mos3MO
Adjusting for the 1.3% growth in hours worked by all non farm employees, that is 2% labor productivity growth in 2023. Not bad at all.
@9JD7CPZ3mos3MO
The growth rate is growing to much.
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