"Revised Q4 GDP Shows US Economy Grew at Healthy 3.4% Rate"

The US economy grew at a 3.4% annual pace in the last quarter of 2023, slightly higher than the previous estimate of 3.2%. Despite a deceleration from the previous quarter, the growth was driven by consumer spending, exports, and business investment. The economy's resilience, with growth above 2% for six consecutive quarters, has defied predictions of a recession despite the Federal Reserve's 11 interest rate hikes. Inflation pressures are easing, with the personal consumption expenditures price index rising at a 1.8% annual rate in the fourth quarter. The report suggests hopes for a "soft landing" as the Fed aims to conquer inflation without triggering a recession.