01
January 0001
US GDP growth rate Q4
Event Impact Assessment
Adriaan Pask
Chief Investment Officer, PSG Wealth
- The US economy grew by an annualised 3.40% in the fourth quarter of 2023, exceeding the second estimate and market projections of a 3.20% growth rate.
- The latest data from the US Bureau of Economic Analysis shows that consumer spending growth grew to 3.30%, while services and goods went up to 3.40% and 3%, respectively.
- Exports surged by 5.10% and imports by 2.20%, while government spending increased by 4.60%.
- Download the latest press release from the Bureau of Economic Analysis here.
The impact
• Wall Street was mixed on Thursday with the S&P 500 adding 0.70%, the Dow Jones lower at 0.70% and
the Nasdaq down 0.30% at 16h35. Investors continued to assess evidence showing that the US economy
remains resilient as bets that interest rates might be cut earlier this year as originally expected started to
fade.
• The US Dollar Index, which gauges the value of the currency against a basket of six currencies, rose 0.70%
to 104.42 points at 16h40 on Thursday.
• The 5-year US Treasury yield rose to 4.20%, while the 10-year and 30-year notes came in at 4.19% and
4.34%, respectively.
The assessment
• Overall, the US economy is still remarkably resilient.
• We will continue to monitor any developments that pose a threat to the performance of our equity
portfolios and make adjustments when warranted.
• The next US GDP growth rate for the second quarter is expected to be released on 27 June 2023.