U.S. economy grows more than expected at end of 2023, driven by consumer spending | CBC News

Thursday's report from the U.S. Commerce Department said the gross domestic product the economy's total output of goods and services decelerated from its sizzling 4.9 per cent growth rate the previous quarter.

Consumers, who account for about 70 per cent of the total U.S. economy, drove the fourth-quarter growth. Their spending expanded at a 2.8 per cent annual rate, for items ranging from clothing, furniture, recreational vehicles and other goods to services like hotels and restaurant meals.

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