The US economy grew 2.6% during the fourth quarter, slower than previously estimated

Minneapolis CNN  — 

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.