{"id":2208087,"date":"2024-03-28T08:46:02","date_gmt":"2024-03-28T12:46:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/economy-grew-3-4-in-fourth-quarter-remaining-strong-despite-higher-interest-rates\/"},"modified":"2024-03-28T08:50:07","modified_gmt":"2024-03-28T12:50:07","slug":"economy-grew-3-4-in-fourth-quarter-remaining-strong-despite-higher-interest-rates","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/economy-grew-3-4-in-fourth-quarter-remaining-strong-despite-higher-interest-rates\/","title":{"rendered":"The economy expanded by 3.4% in the fourth quarter, maintaining its strength despite increased interest 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\">32<\/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%2Feconomy-grew-3-4-in-fourth-quarter-remaining-strong-despite-higher-interest-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=2208087&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--><p>The summary discusses the revision \u200dof fourth-quarter GDP growth to a 3.4% annual rate, \u200cindicating a stronger economic finish\u2063 in 2023 than previously thought. The updated data, adjusted\u2064 for inflation, were \u2062released by the Bureau of \u2062Economic Analysis. To read more, click the &#8220;Read more&#8230;&#8221; button. The summary \u200dcovers the\u200d revision of fourth-quarter GDP growth to a\u2062 3.4% annual rate, \u2063suggesting a more robust economic close\u2062 in\u200c 2023 than anticipated. \u200dThe latest inflation-adjusted\u200c data were\u2063 unveiled by \u200cthe Bureau of Economic Analysis. For further \u200cdetails, click on the &#8220;Read more&#8230;&#8221; button.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<div data-td-block-uid=\"tdi_78\">\n<p>Gross domestic product growth in the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/thanks-to-stricter-democrat-shutdowns-the-us-economy-in-november-and-december-contracted-after-record-setting-3rd-quarter\/\" title=\"Thanks to Stricter Democrat Shutdowns the US Economy in November and December Contracted After Record Setting 3rd Quarter\">fourth quarter<\/a> was revised up to an 3.4% seasonally adjusted annual rate, showing the economy ended 2023 on a stronger footing than previously realized.<\/p>\n<p>The new data, adjusted for\u00a0<a href=\"https:\/\/www.washingtonexaminer.com\/tag\/inflation\/\" target=\"_blank\" rel=\"noreferrer noopener\">inflation<\/a>, were published Thursday by the Bureau of Economic Analysis in its report for\u00a0<a href=\"https:\/\/www.washingtonexaminer.com\/tag\/gdp\" target=\"_blank\" rel=\"noreferrer noopener\"><a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/its-official-trump-crushes-record-for-largest-gdp-increase-in-us-history-3rd-quarter-gdp-up-33-1\/\" title=\"IT'S OFFICIAL: Trump Crushes Record for Largest GDP Increase in US History -- 3rd Quarter GDP Up 33.1%\">gross\u00a0domestic\u00a0product<\/a><\/a>\u00a0for the fourth quarter and for all of last year. The data showed the economy expanded 2.5% for all of 2023.<\/p>\n<p>This was the third and final revision for both the fourth quarter and all of last year, meaning that these represent the final GDP figures.<\/p>\n<p>Data for the fourth quarter were\u00a0revised up\u00a0from the previous estimate while the overall\u00a0GDP\u00a0reading for last year was\u00a0remained the same.<\/p>\n<p>Thursday\u2019s final report shows that the economy fared much better in 2023 than was expected. Notably, a year ago, Fed officials were projecting that GDP growth would only grow by 0.5% in 2023. <\/p>\n<p>President Joe Biden has touted the country\u2019s GDP growth as proof that his \u201cBidenomics\u201d agenda is working \u2014 despite his <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/disaster-joe-bidens-economic-ratings-are-worse-than-jimmy-carters-cnn-poll-finds\/\" title=\"DISASTER: Joe Biden\u2019s Economic Ratings Are Worse Than Jimmy Carter\u2019s, CNN Poll Finds\">economic approval rating<\/a> being down and voters consistently expressing concerns about the state of the economy.<\/p>\n<p>The Fed began <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/federal-reserve-delivers-bad-news-about-expectations-for-inflation-raising-interest-rates-report\/\" title=\"Federal Reserve Delivers Bad News About Expectations For Inflation, Raising Interest Rates: Report\">raising interest rates<\/a> in March 2022 as inflation rose. At its peak, price growth crested at about an 9% annual pace.<\/p>\n<p>Since that zenith, inflation has fallen to a 3.2% rate, according to the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/joe-biden-admits-to-elite-donors-were-gonna-live-with-this-inflation-for-a-while\/\" title=\"Joe Biden Admits to Elite Donors: \u201cWe\u2019re Gonna Live With This Inflation for a While\u201d\">latest consumer price index numbers<\/a> for January. That is still above the Fed\u2019s preferred 2% level, although shows that the Fed\u2019s two-year quest to tamp down inflation by raising interest rates has borne results.<\/p>\n<p><strong><a href=\"https:\/\/www.washingtonexaminer.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">CLICK HERE TO READ MORE FROM THE WASHINGTON EXAMINER<\/a><\/strong><\/p>\n<p>The labor market has also remained resilient despite the interest rate revisions.<\/p>\n<p>The economy\u00a0<a href=\"https:\/\/www.washingtonexaminer.com\/policy\/finance-and-economy\/2909709\/economy-beat-expectations-with-275000-jobs-in-february\/\" target=\"_blank\" rel=\"noreferrer noopener\">beat expectations<\/a>\u00a0again February and added another 275,000\u00a0jobs, the Bureau of Labor Statistics reported last week. The unemployment rate is at 3.9%, remaining at a low level by historical standards.<\/p>\n<\/p><\/div>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The fourth-quarter gross domestic product growth was revised up to a 3.4% annual rate, signaling a stronger 2023 finish than initially thought. The updated inflation-adjusted data were released in the Bureau of Economic Analysis report for Q4 GDP<\/p>\n","protected":false},"author":2683,"featured_media":2208088,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/wex-s3.s3.us-east-1.amazonaws.com\/wp-content\/uploads\/2024\/01\/construction-work-1024x591.jpg","fifu_image_alt":"","footnotes":""},"categories":[538],"tags":[],"class_list":["post-2208087","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-washington-examiner"],"fifu_image_url":"https:\/\/wex-s3.s3.us-east-1.amazonaws.com\/wp-content\/uploads\/2024\/01\/construction-work-1024x591.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2208087","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\/2683"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2208087"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2208087\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2208088"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2208087"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2208087"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2208087"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}