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The US economy expanded at a 2.9% annual pace from October through December, ending 2022 with momentum despite the pressure of high interest rates and widespread fears of a looming recession, the Associated Press reports.
Thursday’s estimate from the Commerce Department showed that the nation’s gross domestic product (GDP)— the broadest gauge of economic output — decelerated last quarter from the 3.2% annual growth rate it had posted from July through September.
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