US Economic Growth Slows Down in Q4 2020.

The Bureau of Economic Analysis (BEA) has released its third and final estimate for real gross domestic product (GDP) in the fourth quarter of 2022, showing that U.S. economic growth is decelerating. The slowdown was primarily due to a downturn in exports and a retraction in consumer spending, nonresidential fixed investment and state and local government spending, the BEA said. The Federal Reserve raised interest rates 25 basis points at its most recent meeting, defying economists' predictions that it would pause its monetary policy in response to the failures of Silicon Valley Bank (SVB) and Signature Bank.