International Business News: The U.S. economy expanded by 3.4% in the last quarter of 2023, surpassing the initial estimate of 3.2%. Consumer spending, exports, and business inves
US GDP surpassed expectations, growing by 3.3% in Q4 of 2023, driven by a resilient job market and robust consumer spending, exceeding the 2% economist consensus. Both S&P and Nasdaq futures saw pre-market gains. The year-end marked a strong period for the US economy, with a full-year growth of 2.5%, according to the Commerce Department. Meanwhile, the European Central Bank (ECB) maintained interest rates for the third time, sustaining the historic rate of four percent despite inflation easing.
The economy of the United States is on track to growing in the fastest pace in almost four decades this year. This is according to a report by by the Organization of Economic Cooperation and Development, which is made up of experts from 38 countries.
Read more about Outright economic boom is missing from the Joe Biden revival budget on Business Standard. Economic growth is strong in 2021 and 2022 - but strong enough only to return the economy to its pre-pandemic trend line, not to surge above the trajectory it was on throughout the 2010s