The US economy grew at a slower pace in the fourth quarter than previously estimated.
Inflation-adjusted gross domestic product — the broadest measure of economic activity — increased 2.6% for the final three months of 2022, according to the Commerce Department’s third and final reading for the quarter.
Growth was initially estimated at 2.9%, then revised down last month to 2.7%.
Economists were expecting GDP growth to hold steady at 2.7%, according to Refinitiv.
This story is developing and will be updated.