CHANNELS
Economic growth in the United States for the fourth quarter last year was revised up unexpectedly, government data showed on Thursday, helped by higher estimates of consumer spending and investment.
GDP growth in the world’s largest economy was pegged at an annual rate of 3.4 percent in the final three months of 2023, said the Commerce Department in its latest report.
The figure was above both its first and second estimates of 3.3 percent and 3.2 percent respectively.
“The update primarily reflected upward revisions to consumer spending and nonresidential fixed investment,” said the Commerce Department.
