Shipping containers sit stacked on a container ship docked at the Port of Oakland, California, on August 07, 2023. (Photo by Justin Sullivan/Getty Images)
The U.S. economy expanded at a slightly slower rate at the end of last year, as a downward revision to inventories masked stronger household spending and investment.
Gross domestic product (GDP) rose at a revised 3.2 percent annualized pace in the fourth quarter, compared with a prior estimate of 3.3 percent. Consumer spending advanced at a 3 percent rate, faster than initially estimated, Bureau of Economic Analysis (BEA) figures showed Wednesday. Inflation was revised higher.
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