The U.S. economy grew substantially faster in the final months of 2023 than forecasters had expected. For all of last year, the economy grew 3.1% — defying forecasts of a likely recession.
The U.S. economy continues to defy gravity, growing rapidly despite high interest rates. Consumer spending is powering the expansion, but it's not clear how long that can last.
The U.S. economy grew at an annual rate of 2.9% in the final three months of last year — a surprisingly strong finish. But growth is expected to slow in 2023, and possibly even reverse.
Thursday's GDP report shows the U.S. economy grew at an annual rate of 2.6% in July, August and September, after shrinking in the first half of the year.
GDP, or gross domestic product, tells us how much the economy grew in the previous quarter. There's fears that the economy contracted for a second quarter in a row.
A team of economists offers America a new way to look at economic growth. It's a sort of GDP prototype that tracks the well-being of different income groups.
The U.S. economy slowed sharply in the third quarter as the delta variant and persistent supply chain woes weighed on growth. The months ahead should be better.
The U.S. economy grew 6.5% pace in the April-June quarter, continuing to strengthen from the worst of the pandemic. A slowdown is inevitable; the question is how much it will slow.
The Commerce Department says the U.S. economy grew just 1% in the last three months of the year, as a rise in coronavirus infections weighed on in-person businesses like restaurants.
The U.S. economy is likely to have slowed in the last three months of the year, ending 2020 smaller than it began. But for some companies, business is now back to pre-pandemic levels.
