US economy began to grow faster than forecasts
Analysts had expected the figure to be 2.7%. Previous estimates of US GDP growth for the fourth quarter were 2.5-2.6%. In the third quarter, US GDP grew by 3.2%, the second quarter - by 3.1%, and by the end of the first quarter - by 1.2%.
The Bureau of Economic Analysis of the US Department of Commerce finally estimated the real GDP growth of the country in the fourth quarter of 2023 at 2.9% in annual terms.
According to experts interviewed by Prime, the situation in the US economy is now quite stable, but the data for the fourth quarter is nothing more than an assessment of the past period of time, which does not fully reflect the current realities.
The largest contribution to the revision was made by the component of growth in consumer spending (from 3.8% to 4%) - consumption in the US is growing at a faster rate. "The American economy is now in good shape - unemployment at a fifteen-year low, house sales at a ten-year high, inflation under control, business activity indices show an increase in the economy," said Roman Tkachuk, a senior analyst with Alpari.
We do not think that these assessments were influenced by any protectionist decisions by the administration of Donald Trump, since they were first made public at the end of December last year.
After the release of statistics, the growth of the dollar on world markets accelerated - the euro-dollar pair fell to the level of 1.234. US Treasuries and US stocks did not react to the released data in a significant way. On the one hand, traders win back positive on US GDP, on the other - growth is restrained by a decline in the price of shares of companies in the technology sector, according to the data of the bidding.