US economy grew 2.3% in the fourth quarter, slower than expected

The U.S. economy grew slower than expected in the fourth quarter, according to new data released on Thursday.

The Commerce Department’s Bureau of Economic Analysis released its advance estimate for fourth-quarter gross domestic product (GDP), which found the U.S. economy grew at an annual rate of 2.3% in the fourth quarter, which runs from October through December. 

Economists surveyed by LSEG had expected the economy to grow at a 2.6% rate in the quarter.

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