CoStar Analytics
Summary:
The U.S. economy defied predictions of a recession in 2023, closing the year with a robust 3.3% annualized growth in the fourth quarter, as reported by the Bureau of Economic Analysis. The diverse growth was spread across consumer spending, business investments, trade, and government spending. A “Goldilocks scenario” was observed, with all major GDP components growing within a 1.5% to 4% range. Concerns about the sustainability of consumer spending arise due to increased reliance on credit cards, rising delinquencies, and a low personal savings rate, suggesting a potential economic slowdown.
View the full article here: https://www.costar.com/article/1588474514/economy-keeps-humming-along-defying-forecasts