The latest GDP report showed the U.S. economy grew by a faster-than-expected pace in the fourth quarter of 2022, but that likely overstates America’s economic health as a measure of domestic demand slowed to a crawl, while one key data point buried deep in the report was the worst since the Great Depression.
The U.S. economy expanded 2.9 percent in the fourth quarter of 2022, down from 3.2 percent in the prior quarter, data released Thursday by the Bureau of Economic Analysis show.
Analysts expected a slower, 2.6 percent, pace of growth, with Wall Street rallying on the upside surprise and closing the trading day in the green….