Press Release
☷By the Numbers U S Economy Grows Faster than Expected for Year and Final Quarter of 2023
U.S. Department of Commerce ( By Press Release office)
Jan 27,2024
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The latest report from the U . S . Commerce Department ' s Bureau of Economic Analysis ( BEA ) showed that the economy grew more than expected in the fourth quarter of 2023 . This growth was mainly driven by increased job opportunities and consumer spending . Throughout the year , Americans showed confidence in the economy , with retail sales and personal income seeing positive growth . Additionally , there was an increase in savings among Americans . The manufacturing industry also experienced significant growth , contributing to the overall economic expansion . For more details , you can refer to President Biden ' s statement on the fourth quarter 2023 GDP report .
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