Economy

US Economy Grew at a Slower Pace in 4th Quarter as Consumer Spending Revised Lower

US Economy Grew at a Slower Pace in 4th Quarter as Consumer Spending Revised Lower
Shoppers walk past sale signs in the outdoor shopping area of Avalon during Black Friday in Alpharetta, Ga., on Nov. 25, 2022. Jessica McGowan/Getty Images
Andrew Moran
|Updated:
0:00
The U.S. economy expanded at a slower-than-expected pace in the fourth quarter, according to the second estimate from the Bureau of Economic Analysis (BEA).

In the last three months of 2022, the gross domestic product (GDP) growth rate rose 2.7 percent, down from 3.2 percent in the third quarter. This was below the previous BEA estimate of 2.9 percent.

Andrew Moran
Andrew Moran
Author
Andrew Moran has been writing about business, economics, and finance for more than a decade. He is the author of "The War on Cash."
Related Topics