U.S. Gross Domestic Product Jumps 2.9% Annually in October-December, Better Than Expected – Bloomberg

U.S. real gross domestic product (GDP) figures for the first quarter of last year increased at a healthy pace. However, a series of interest rate hikes by the Fed risks slowing growth this year.

Key Point
  • Preliminary real GDP for October-December increased by 2.9% year-on-year compared to the previous quarter
    • The median forecast of economists in a Bloomberg survey predicted a 2.6% rise.
    • July-September (third quarter) increased by 3.2%

Consumer spending, the largest segment of the U.S. economy, rose 2.1%, weaker than expected.

See table for detailed statistics.

Original title:US Economy Expands at a Faster-Than-Expected 2.9% Pace(excerpt)

(Add and update stats details)

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