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US Economy Grew at 4.4% in Q3 2023, Higher Than Initially Estimated

Published January 23, 2026, 04:01
US Economy Grew at 4.4% in Q3 2023, Higher Than Initially Estimated

The US economy grew at a rate of 4.4% in the third quarter of 2023, according to a revised estimate from the Department of Commerce, exceeding initial forecasts of 4.3%. This is the fastest pace of growth since the third quarter of 2023. The increase was primarily driven by consumer spending and a smaller trade deficit, with exports and business investment also being upgraded. However, domestic demand was slightly revised downwards. Economists point to a K-shaped pattern, where higher-income households and large corporations are leading growth, while lower- and middle-income households are struggling. Profits from production increased significantly in the third quarter.