- US GDP expands to 2.9% in the fourth quarter, above the 2.6% expected.
- GDP price indicators rise less than expected.
- The dollar gains momentum in the market after several economic data.
The first estimate of US GDP growth for the fourth quarter of 2022 showed that the economy expanded at an annualized rate of 2.9%higher than the 2.6% market consensus and lower than the 3.2% of the previous quarter.
He íGDP price index it went from 4.4% to 3.5%, above the expected 3.3%. The personal consumption spending price index rose 3.2% in the fourth quarter, below the 4.3% expected; while this underlying index climbed 3.9%, lower than the expected 5.3%.
Other economic reports were released at the same time, including the initial claims for unemployment benefits. The dollar initially reacted higher, marking new highs for the day. Next week will be the Federal Reserve meeting (Tuesday, January 31 and Wednesday, February 1).
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
