US economy expands 3.2% in Q4

Figure revised down from 1st reading of 3.3% made last month

By Ovunc Kutlu

ISTANBUL (AA) - The US economy expanded 3.2% in the fourth quarter of 2023, according to the Commerce Department's second reading released Wednesday.

The figure is revised down from the first reading of 3.3% made last month.

American economy expanded 4.9% in the third quarter of last year.

The current dollar GDP increased 4.9% at an annual rate, or $334.5 billion, in the fourth quarter to reach $27.94 trillion, the Commerce Department said in a statement.

This is an upward revision of $5.8 billion from the previous estimate that was made in January, it added.

"Current-dollar personal income increased $219.5 billion in the fourth quarter, a downward revision of $5.4 billion from the previous estimate," the agency said in a statement.

"Personal saving was $809.2 billion in the fourth quarter, a downward revision of $22.4 billion from the previous estimate," it added.

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