Skip to Content

US revises down last quarter’s economic growth to 2.6% rate

KIFI

By PAUL WISEMAN
AP Economics Writer

WASHINGTON (AP) — The U.S. economy maintained its resilience from October through December despite rising interest rates, growing at a 2.6% annual pace, the government said Thursday in a slight downgrade from its previous estimate. The government had previously estimated that the economy expanded at a 2.7% annual rate last quarter. The rise in the gross domestic product — the economy’s total output of goods and services — for the October-December quarter was down from the 3.2% growth rate from July through September. Exports and consumer spending were revised lower in the Thursday report. For all of 2022, the U.S. economy expanded 2.1%, down from a robust 5.9% in 2021.

Article Topic Follows: AP National Business

Jump to comments ↓

Author Profile Photo

Associated Press

BE PART OF THE CONVERSATION

KIFI Local News 8 is committed to providing a forum for civil and constructive conversation.

Please keep your comments respectful and relevant. You can review our Community Guidelines by clicking here

If you would like to share a story idea, please submit it here.

Skip to content