- US: Real GDP grows at an annual rate of 2.6% in Q4 vs. 2.7% expected
Market news
30 March 2023
US: Real GDP grows at an annual rate of 2.6% in Q4 vs. 2.7% expected
- The US BEA revised Q4 GDP lower to 2.6% from 2.7%.
- US Dollar Index stays deep in negative territory below 102.50.
The real Gross Domestic Product (GDP) of the US expanded at an annualized rate of 2.6% in the fourth quarter, the US Bureau of Economic Analysis' (BEA) final estimate showed on Thursday. This reading came in below the previous estimate and the market expectation of 2.7%.
"The revision primarily reflected downward revisions to exports and consumer spending," the BEA explained in its press release. "Imports, which are a subtraction in the calculation of GDP, were revised down."
Market reaction
The US Dollar stays on the back foot after this data and the US Dollar Index was last seen losing 0.38% on the day at 102.25.
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