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Marketplace All-in-One

GDP revised up for the fourth quarter

Marketplace All-in-One

Marketplace

News, Business

4.51.4K Ratings

🗓️ 28 March 2024

⏱️ 1 minutes

🧾️ Download transcript

Summary

GDP was higher in the fourth quarter than previous estimates; consumer sentiment holds steady; insurance claims from Baltimore’s bridge collapse could near $4 billion; Home Depot courts more professional builders.

Transcript

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0:00.0

The U.S. economy just keeps growing. I'm Henry Epp with the Marketplace Minute.

0:06.2

The country's gross domestic product grew even faster than we thought in the fourth quarter of

0:10.8

2023. The Department of Commerce revised GDP growth up two-tenths of a percent to

0:16.2

3.4 percent that was due in part to increases in spending by consumers and

0:21.0

state and local governments.

0:22.6

Americans' feelings about the economy didn't change much in the past month, according

0:26.7

to the latest consumer sentiment reading from the University of Michigan.

0:30.4

The index rose 3% from February, but compared to a year ago, it's up 28%.

0:36.0

Insurance claims from the Baltimore Bridge collapse could near 4 billion dollars,

0:41.0

according to Lloyds of London.

0:42.0

Lloyds tells the BBC the disaster could be one of the largest

0:45.4

marine insurance losses in history.

0:48.4

And Home Depot is buying a building materials supplier, SRS Distribution.

0:53.2

The $18 billion deal is a bid to improve Home Depot's sales to professional builders, as its

0:58.4

sales to DIY customers remain slow.

1:01.3

I'm Henry App with the Marketplace Minute.

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