Wall Street Journal (01/25/24) Rubin, Gabriel T.
The U.S. economy grew 3.1% over the last year, defying forecasts of a recession as a resilient labor market supported robust consumer spending. The year was capped by a fourth quarter in which the economy grew at a 3.3% seasonally and inflation-adjusted annualized pace, according to the U.S. Department of Commerce. The quarterly reading was a slowdown from the summer’s 4.9% pace but in line with prepandemic trends.
This article originally appeared on wsj.com. Use this link to see the full article, but please note a subscription is required: What Recession? Growth Ended Up Accelerating in 2023
