GDP in fourth quarter grew at annualized rate of 2.9%, federal government
The growth comes amid high inflation and historically high interest rates.
Gross domestic product, the market value of U.S. goods and services, increased in the fourth quarter of last year at an annualized rate of 2.9%, the Commerce Department said Thursday.
The growth comes amid high inflation and historically high interest rates. The fourth quarter is from October to December.
The increase is nevertheless a slowdown since from the 3.2% growth in the third quarter, which was preceded by two consecutive quarters of contraction, according to CNN.