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BEA News: Gross Domestic Product, Fourth Quarter and Year 2023 (Second Estimate)

BEA News: Gross Domestic Product, Fourth Quarter and Year 2023 (Second Estimate)

The U.S. Bureau of Economic Analysis (BEA) has issued the following news release today:

Real gross domestic product (GDP) increased at an annual rate of 3.2 percent in the fourth quarter of 2023, according to the “second” estimate. In the third quarter, real GDP increased 4.9 percent. The increase in the fourth quarter primarily reflected increases in consumer spending, exports, as well as state and local government spending. Imports, which are a subtraction in the calculation of GDP, increased.

The full text of the release can be found at www.bea.gov/news/2024/gross-domestic-product-fourth-quarter-and-year-2023-second-estimate

Donato Pompo

Donato Pompo, CTC CMR CSI CDT MBA, is the leading tile and stone forensic expert and consultant in North America, and he is a National Tile Contractors Association Recognized Consultant. Donato is the founder of CTaSC.