U.S. Q4 GDP Growth Unexpectedly Upwardly Revised To 3.4%
(RTTNews) - The U.S. economy unexpectedly grew by more than previously estimated in the fourth quarter of 2023, the Commerce Department revealed in a report released on Thursday.
Revised data showed real gross domestic product surged by 3.4 percent in the fourth quarter compared to the previously reported 3.2 percent jump. Economists had expected the pace of GDP growth to be unrevised.
The Commerce Department said the stronger than previously estimated growth primarily reflected upward revisions to consumer spending and nonresidential fixed investment that were partly offset by a downward revision to private inventory investment.
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U.S. Consumer Sentiment Dips More Than Previously Estimated In April
Revised data released by the University of Michigan on Friday showed consumer sentiment in the U.S. deteriorated by more than previously estimated in the month of April. The University of Michigan said its consumer sentiment index for April was downwardly revised to 77.2 from a preliminary reading of 77.9.
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U.S. Consumer Prices Rise 0.3% In March, Annual Growth Accelerates To 2.7%
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U.S. Consumer Prices Rise In Line With Estimates In March
Closely watched readings on inflation released by the Commerce Department on Friday showed consumer prices in the U.S. increased in line with economist estimates in the month of March.
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U.S. Pending Home Sales Surge 3.4% In March, Much More Than Expected
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U.S. Pending Home Sales Surge Much More Than Expected In March
Pending home sales in the U.S. surged by much more than expected in the month of March, according to a report released by the National Association of Realtors on Thursday.
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U.S. Economic Growth Slows Much More Than Expected In Q1
A report released by the Commerce Department on Thursday showed the U.S. economy grew by much less than expected in the first quarter of 2024. The Commerce Department said gross domestic product increased by 1.6 percent in the first quarter after surging by 3.4 percent in the fourth quarter of 2023. Economists had expected GDP to jump by 2.5 percent.
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U.S. Weekly Jobless Claims Unexpectedly Dip To Two-Month Low
The Labor Department released a report on Thursday showing an unexpected decrease by first-time claims for U.S. unemployment benefits in the week ended April 20th. The report said initial jobless claims fell to 207,000, a decrease of 5,000 from the previous week's unrevised level of 212,000. The dip surprised economists, who had expected jobless claims to inch up to 214,000.
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U.S. GDP Climbs Much Less Than Expected In Q1
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