Solid 4th Quarter Leads to 2.1% GDP Growth for 2022
Solid GDP growth in 2022 but a recession likely in 2023.
GDP growth in the fourth quarter of 2022 was just reported to be 2.9%. That’s down slightly from the 3.2% growth in the third quarter. Since growth was negative in the first two quarters of 2022, growth for the entire year was 2.1%. That’s down significantly from the 5.7% gross domestic product growth rate in 2021.