US Economy Surprises with 3.4% Growth in Q4 of 2023, Outpacing Expectations

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

In the fourth quarter of 2023, the US economy experienced growth at a rate of 3.4% annualized, exceeding the previous 3.2% estimates made just a month prior. 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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