The U.S. Department of Commerce announced that GDP (Gross Domestic Product) grew at an annualized rate of 0.5% in the fourth quarter of last year compared to the previous quarter. This figure is below market expectations (0.7%). U.S. GDP growth rates are announced in three stages: advance, preliminary, and final. Today's announcement is the final estimate. Additionally, the U.S. core Personal Consumption Expenditures (PCE) price index for February rose 0.4% month-over-month, matching expert forecasts (0.4%). Year-over-year, it also rose 3.0%, consistent with expert forecasts (3.0%). The core PCE price index, which excludes volatile energy and food items, is considered by the Federal Reserve to be the most accurate inflation indicator.
