U.S. GDP rose 2.9% in the fourth quarter, more than expected even as recession fears loom

[butterscotch]

Despite inflation and hints of recession, US GDP rose 2.9% in last quarter of 2022.

The U.S. economy finished 2022 in solid shape even as questions persist over whether growth will turn negative in the year ahead.

Fourth-quarter gross domestic product, the sum of all goods and services produced for the October-to-December period, rose at a 2.9% annualized pace, the Commerce Department reported Thursday. Economists surveyed by Dow Jones had expected a reading of 2.8%.

The growth rate was slightly slower than the 3.2% pace in the third quarter.

https://www.cnbc.com/amp/2023/01/26/gdp-q4-2022-us-gdp-rose-2point9percent-in-the-fourth-quarter-more-than-expected-even-as-recession-fears-loom.html

[Bruce]

Oh! I misread as 2.9% for the quarter which would have been marvellous news but that is the annualised figure which is actually pretty poor. At least it is still growth so no recession?

Ours is nothing to write home about either - GDP was down in the September quarter from an expected .7% to .6% giving an annualised growth figure of 5.9%

Australia’s GDP grew 0.6% in September quarter and 5.9% annually as economy...