US Economy Showed Solid Growth at End of 2022

The U.S. economy cooled only slightly at the end of last year, advancing at an annualized 2.9% rate, the Department of Commerce reported Thursday, even as forecasters are suggesting a recession is possible later in 2023. The growth in the October-to-December quarter dropped from a 3.2% advance in the third quarter, following a half year when the world's biggest economy shrank. For all of 2022, the economy grew by a solid, if unspectacular 2.1%, down from a robust 5.7% growth rate in 2021 when the recovery from the coronavirus pandemic was in full force. Last year saw contrasting themes, including the fastest growth in consumer prices in four decades, pinching the wallets of Ameri
webdesk@voanews.com (Ken Bredemeier)
[Read more]