US economy grows strongly but interest rate rises starting to slow momentum - short news
Gross domestic product increased at 2.9% annualized rate in fourth quarter but economists expect recession later this year
The US economy maintained a strong pace of growth in the fourth quarter as consumers boosted spending on goods, but momentum appears to have slowed considerably towards the end of the year, with higher interest rates eroding demand.
Gross domestic product – the broadest measure of economic health – increased at a 2.9% annualized rate last quarter, the..
source: The Guardian - 26.01.2023