Key Points
Gross domestic product in the last quarter increased at a 3.3% annualized rate, the Commerce Department's Bureau of Economic Analysis said on Thursday in its advance estimate of fourth-quarter GDP...
Part of the economy's stamina reflects labor market resilience, marked by low layoffs and strong wage gains, which are underpinning consumer spending...
The labor Department in a separate report on Thursday said initial claims for state unemployment benefits increased 25,000 to a seasonally adjusted 214,000 for the week ended Jan. 20..
Increased government spending as well as near-zero interest rates during the Covid-19 pandemic, which allowed some corporations and households to lock in low rates, have also helped stave off a recession...
With the GDP report also showing inflation pressures subsiding last quarter, the central bank is widely anticipated to start cutting rates sometime in the first half of this year..
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