us economy
GlobalData Pares Back US Economy Growth to 0.3% in 2023
GlobalData | February 14, 2023
High inflation levels far above the Fed Reserve’s target of 2% and the consequent tightening of monetary policy, which has been hiked eight times from January 2022 to February 2023, will continue to dampen household spending and investments in the US, which will negatively impact the economic growth prospects. As a result, the real GDP growth of the US is set to slow down from 2.1% in 2022 to 0.3% in 2023, forecasts GlobalData, a leading data and analytics company. GlobalData’s latest report, “Macroeconomic Outlook Report: United States,” reveals that the real household consumption expenditure increased by 2.4% in 2022 and is forec...