U.S. Q3 GDP growth revised down to annual rate of 4.9 pct

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U.S. Q3 GDP growth revised down to annual rate of 4.9 pct

STORY: U.S. Q3 GDP growth revised down to annual rate of 4.9 pct SHOOTING TIME: Dec. 21, 2023 DATELINE: Dec. 22, 2023 LENGTH: 00:01:51 LOCATION: Washington D.C. CATEGORY: ECONOMY SHOTLIST: 1. various of U.S. Department of Commerce 2. various of San Francisco STORYLINE: The U.S. real gross domestic product (GDP) growth in the third quarter of 2023 was revised down to an annual rate of 4.9 percent in its third and final estimate, the Commerce Department reported on Thursday. In the "advance" estimate, U.S. GDP in the third quarter grew by an annual rate of 4.9 percent, and the figure was revised up to 5.2 percent in the second estimate. The update primarily reflected a downward revision to consumer spending. Imports, which are a subtraction in the calculation of GDP, were revised down. The increase in real GDP reflected increases in consumer spending, private inventory investment, exports, state and local government spending, federal government spending, residential fixed investment, and nonresidential fi

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