SOURCE: U.S. NEWS
The government issued its advance estimate of the nation’s economic output for the fourth quarter of 2022.
The report on the gross domestic product will likely show the economy grew at an annual pace somewhere around 2.6% or so, down from 3.2% in the third quarter. The Federal Reserve’s campaign to arrest inflation by raising interest rates is working and the consequences of the higher borrowing costs are a slowing economy that will reflect in the GDP data.