THE ECONOMIC PERISCOPE - MARCH 2024
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- Economy Overview
- THE ECONOMIC PERISCOPE - MARCH 2024
Real gross domestic product (GDP) of the US economy has increased at an annual rate of 3.2 percent in the fourth quarter of 2023, according to the "second" estimate released by the Bureau of Economic Analysis. In the third quarter, real GDP increased 4.9 percent.
Though the US CPI inflation remains bumpy, it indicates certain slowdown as the personal consumption expenditure (PCE) price index for January increased 2.4 percent, slower than Dec’23’s print of 2.6 per cent. Prices for services increased 3.9 percent and prices for goods decreased 0.5 percent. Food prices increased 1.4 percent and energy prices decreased 4.9 percent.