The final estimate for real gross domestic product (GDP) in the fourth quarter of 2023 was revised upwards, showing that the U.S. economy grew.
The third and final estimate for real gross domestic product in the fourth quarter of 2023 was revised upwards, showing that the U.S. economy grew at an annual rate of 3.4%, according to the Bureau of Economic Analysis .The reading comes just above the BEA's second GDP estimate for the fourth quarter, which showed the economy increased at 3.2%. The change primarily reflects upward revisions to consumer spending and nonresidential fixed investment. Real GDP increased at an annual rate of 3.
consumers who continue to face relatively high-interest rates across a range of credit products will have to wait at least a bit longer for rate relief. When rates do begin falling, the effects throughout the credit industry will be real but will likely be slow to take root."Consumers can explore refinancing any high-interest debt into lower-interest credit products to reduce balances once interest rates are brought down, according to Raneri.
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