US 4Q GDP to crown vigorous second half

Solid numbers: Customers browse in a shoe shop in Manhattan. Analysts say indications show consumer demand has some momentum entering the new year. — AFP

WASHINGTON: A likely moderation of US economic growth in the fourth quarter ended an otherwise solid stretch of activity over the final six months of 2023, feeding expectations the expansion will remain intact.

Economists project the government’s initial reading of gross domestic product (GDP) – the sum of goods and services produced – to show an annualised 2% increase, according to the median estimate in a Bloomberg survey.