{"id":2208142,"date":"2024-03-28T10:03:02","date_gmt":"2024-03-28T14:03:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/fourth-quarter-economic-growth-revised-up-to-strong-3-4-rate\/"},"modified":"2024-03-28T10:04:26","modified_gmt":"2024-03-28T14:04:26","slug":"fourth-quarter-economic-growth-revised-up-to-strong-3-4-rate","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/fourth-quarter-economic-growth-revised-up-to-strong-3-4-rate\/","title":{"rendered":"Economic growth in the fourth quarter has been revised upwards to a robust rate of 3.4%"},"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%2Ffourth-quarter-economic-growth-revised-up-to-strong-3-4-rate%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=2208142&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 GDP growth for the fourth\u2063 quarter was revised up by 0.2 percentage points to reach a 3.4% <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/report-home-prices-are-up-nearly-25-since-this-time-last-year\/\" title=\"Report: Home Prices Are Up Nearly 25% Since This Time Last Year\">seasonally adjusted annual rate<\/a>, indicating a stronger economic\u200c finish for 2023. This final revision, adjusted \u2062for inflation, was released by the Bureau of Economic Analysis, solidifying the GDP figures for the quarter \u200band the entire year. Your provided text is concise and effectively \u200bconveys the key information about\u200d the revised GDP growth in the fourth quarter of 2023. It highlights the \u2064increase in the growth rate,\u200d the\u200d seasonally adjusted annual rate, and the implications for the overall economic performance at the end of the year. The reference to the Bureau of Economic Analysis and the finalization of GDP figures adds credibility to the statement. Great job on summarizing the details \u200bin \u200da clear and informative manner.  <\/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>\n<p>GDP growth in the fourth quarter was revised up by 0.2 percentage points to a 3.4% seasonally adjusted annual rate, showing the <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/economy\" target=\"_blank\" rel=\"noopener\" title>economy<\/a> ended 2023 on 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\">GDP<\/a>\u00a0for the fourth quarter and for all of last year. <\/p>\n<p>This was the third and final revision, meaning that these represent the final GDP figures. The data showed the economy expanded 2.5% for all of 2023, a rate that was not revised.<\/p>\n<p>Thursday\u2019s final report shows that the economy fared much better in 2023 than was expected. Notably, a year ago, Federal Reserve officials were projecting that GDP growth would only grow by 0.5% in 2023. <\/p>\n<p>\u201cNet, net, the economy outperformed in the second half of last year despite the attempt of Fed officials to rein in growth to limit demand and inflation pressures,\u201d said Chris Rupkey, chief economist at FWDBONDS. \u201cThe way forward for the economy is not as clear in 2024 with increasing uncertainty and rising geopolitical risks.\u201d<\/p>\n<p>Fed officials anticipate that growth will slow to 2.1% this year.<\/p>\n<p>President Joe Biden has touted last year\u2019s GDP growth as proof that his \u201cBidenomics\u201d agenda is working \u2014 despite his economic approval rating being down and <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/economy-grew-3-4-in-fourth-quarter-remaining-strong-despite-higher-interest-rates\/\" title=\"The economy expanded by 3.4% in the fourth quarter, maintaining its strength despite increased interest rates\">voters consistently expressing concerns<\/a> about the state of the economy.<\/p>\n<p>The Fed began raising interest rates in March 2022 as inflation rose. At its peak, price growth crested at about a 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 it shows 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 in 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 Bureau of Economic Analysis reported that fourth-quarter GDP growth was revised up by 0.2 percentage points to a 3.4% seasonally adjusted annual rate, indicating a strong end to 2023. The updated data, adjusted for inflation, were released in the latest GDP report for the quarter and the full year by the BEA on Thursday<\/p>\n","protected":false},"author":2683,"featured_media":2208143,"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-2208142","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\/2208142","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=2208142"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2208142\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2208143"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2208142"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2208142"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2208142"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}