The growth rate of GDP = Gross Domestic Product in the United States from October to December 2022 was +2.9% on an annual basis, marking the second consecutive quarter of positive growth.
FRB = It is a form that confirmed the solidity of the American economy even though the unusual interest rate hike by the Federal Reserve Board continues.
On the 26th, the US Department of Commerce announced preliminary figures for GDP from October to December 2022.
Compared to the previous three months, real growth was +2.9% on an annualized basis.
GDP was negative for two consecutive quarters from January to March and from April to June last year, but increased by 3.2% from July to September, marking the second consecutive quarter of positive growth this time.
The breakdown shows a 3.7% increase in government spending and a 2.1% increase in private consumption.
Of these, personal consumption has been a factor in boosting GDP, as tourism and eating and drinking have been strong due to the normalization of the economy from the corona disaster.
Even with the Fed's unusual interest rate hikes continuing, the solidity of the US economy has been confirmed.
However, the FRB plans to raise the policy interest rate further and maintain high interest rates, and there is growing concern that the impact on personal consumption and corporate activity will spread and the US economy will fall into recession.