{"id":1907208,"date":"2023-03-30T10:27:25","date_gmt":"2023-03-30T14:27:25","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/gdp-grew-at-2-6-rate-in-fourth-quarter-of-2022-despite-pressure-from-rising-rates\/"},"modified":"2023-03-30T10:28:11","modified_gmt":"2023-03-30T14:28:11","slug":"gdp-grew-at-2-6-rate-in-fourth-quarter-of-2022-despite-pressure-from-rising-rates","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/gdp-grew-at-2-6-rate-in-fourth-quarter-of-2022-despite-pressure-from-rising-rates\/","title":{"rendered":"GDP grew at 2.6% rate in fourth quarter of 2022 despite pressure from rising rates"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">30<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fgdp-grew-at-2-6-rate-in-fourth-quarter-of-2022-despite-pressure-from-rising-rates%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1907208&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47-->\n<p>The Bureau of Economic Analysis released its revised estimate and reported that the economy grew at an annual rate of 2.6% in 2022&#8217;s fourth quarter amidst economic challenges. This is a slightly lower adjusted value when compared to the previous estimated figure of 2.7%. Around the end of the year, household spending and business investment slowed down according to the report, which is the final GDP estimate for 2022&#8217;s fourth quarter. <\/p>\n<p>In 2022, the economy grew by 2.1%, a year that saw recession fears and a significant surge in inflation, prompting the Federal Reserve to address pricing issues through interest rate hikes. This was preceded by an exceptional 5.9% GDP growth in 2021, which was attributed to the reopening and the recovery of the economy from pandemic lows. <\/p>\n<p>The first two quarters of 2022 recorded negative GDP growth, which declined, boosting economists&#8217; concerns signifying a recession. However, the economy&#8217;s positive growth on the year was still positive. <\/p>\n<p>Crippling inflation characterized 2022&#8217;s most notable economic trend, which caused financial instability for some and lowered the standards of living across the country. But with the Fed&#8217;s effort to curb inflation, a recession is still possible as inflation significantly exceeded the Fed&#8217;s target of 2%, reaching 6% in February for the year ending. <\/p>\n<p>The rise in interest rates has been mild, with the Fed hiking quarterly rates by a quarter percentage point, aimed at taming inflation. The labor market remained robust with job additions of 311,000 in February, increasing the unemployment rate to 3.6%, a remarkably low rate by historical standards. In September, the unemployment rate hit the lowest level since 1969, declining to 3.4%. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>The economy grew at a 2.6% annual rate in the fourth quarter of last year, showing strength in the face of economic challenges, the Bureau of Economic Analysis reported Thursday in a revised estimate. The GDP numbers, adjusted for inflation, were revised down slightly from the previous estimate of 2.7%. Thursday\u2019s report, which is the<\/p>\n","protected":false},"author":1,"featured_media":1907209,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[538],"tags":[21673,3990,7032,19583,16554,4150,7509,6366,6009,7972],"class_list":["post-1907208","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-washington-examiner","tag-2-6","tag-3990","tag-fourth","tag-gdp","tag-grew","tag-pressure","tag-quarter","tag-rate","tag-rates","tag-rising"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1907208","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1907208"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1907208\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1907209"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1907208"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1907208"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1907208"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}