U.S. Q4 real GDP annualized quarter-on-quarter growth rate revised down to 0.5%, economy slows more than expected

U.S. Q4 real GDP annualized quarter-on-quarter growth rate revised down to 0.5%, economy slows more than expected

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The U.S. economy performed worse than expected in the fourth quarter last year, with final data showing the growth rate was revised down from the initial estimate.

Data released by the U.S. Department of Commerce showed that the annualized quarterly growth rate of real GDP in the fourth quarter was 0.5%, lower than the market expectation of 0.7% and also below the initial estimate of 0.7%. This downward revision reflects weaker economic momentum in the quarter than previously estimated.

Meanwhile, the final annualized quarterly growth rate of the core Personal Consumption Expenditures (PCE) price index, which measures inflation pressure, was 2.7%, in line with market expectations and the initial estimate, with no surprises.

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