GDP in fourth quarter grew at annualized rate of 3.3%, federal government

The country's Gross Domestic Product increased in the fourth quarter of 2023 at an annualized rate of 3.3%, the federal government said Thursday.

GDP is the total market value of the final goods and services produced within the U.S. and the federal government's measure the U.S. economy and its growth, according to the Commerce Department's Bureau of Economic Analysis, which compiles and releases the report. 

This is higher than the prediction from economists polled by The Wall Street Journal, who had forecast a 2.0% annual rate for the quarter, according to Market Watch.com.

The GDP for the third quarter of last year was 4.9%, the biggest increase in a decade if the pandemic years are excluded.