Warning Sign for the US Economy Buried Deep in Otherwise Upbeat GDP Numbers

Warning Sign for the US Economy Buried Deep in Otherwise Upbeat GDP Numbers
President Joe Biden delivers remarks on the economy and inflation in the Eisenhower Executive Office Building in Washington on Jan. 12, 2023. Kevin Dietsch/Getty Images
Tom Ozimek
Updated:
0:00

The latest GDP report showed the U.S. economy grew by a faster-than-expected pace in the fourth quarter of 2022, but that likely overstates America’s economic health as a measure of domestic demand slowed to a crawl, while one key data point buried deep in the report was the worst since the Great Depression.

The U.S. economy expanded 2.9 percent in the fourth quarter of 2022, down from 3.2 percent in the prior quarter, data released Thursday by the Bureau of Economic Analysis show.
Tom Ozimek
Tom Ozimek
Reporter
Tom Ozimek is a senior reporter for The Epoch Times. He has a broad background in journalism, deposit insurance, marketing and communications, and adult education.
twitter
Related Topics