"US Fourth Quarter GDP Growth Revised Down to 3.2%"

The U.S. economy's growth in the fourth quarter was revised down to a 3.2% annual pace, following a strong 4.9% gain in the third quarter, but still shows resilience despite higher interest rates. Consumer spending, accounting for 70% of economic activity, was revised up, while business investment was weaker than initially reported. Inflation remains near the Fed's 2% goal. The economy is expected to continue expanding at a 3%-plus rate in the first quarter, driven by strong domestic demand and a robust labor market, despite concerns about inflation.