Economic growth stayed strong in the fourth quarter

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Marketplace

News, Business

4.5 • 1.4K Ratings

🗓️ 25 January 2024

⏱️ 1 minutes

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Summary

Stocks rise; GDP grows at second-fastest pace since 2021; inflation slows down; unemployment claims rise

Transcript

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0:00.0	This is the Marketplace Minute.
0:03.0	I'm Justin Ho.
0:05.0	Stocks closed higher on Thursday.
0:06.7	The Dow gained more than 6 tenths percent, the S&P rose half a percent, and the
0:10.9	NASDAQ added 2 tenthtenths percent.
0:13.0	The economy grew in the fourth quarter of last year at a 3.3% annual rate,
0:18.0	according to the Commerce Department.
0:20.0	It was the second biggest expansion in two years.
0:22.0	Only the third quarter of last year
0:23.8	sell more growth. Most of the recent growth has been driven by consumer
0:27.4	spending on both goods and services. Government spending and
0:31.1	inventory investment rose too.
0:33.0	The same report found that prices rose 3.7% last year.
0:38.0	That's less than in 2022, but inflation was still higher than the Federal Reserve's target of 2%.
0:44.0	The number of people signing up for unemployment benefits rose last week to 214,000.
0:49.0	That's according to the Labor Department, the number of continuing claims rose too.
0:53.0	I'm Justin Ho with the Marketplace Minute. You're going to.

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