Midday market 02/23: Q4 GDP unexpectedly pulled down as inflation higher than estimated

One month after the Q4 2022 GDP growth figure was higher than forecast at 2.9% vs 2.6% expected, BEA announced a downward revision to 2.7% early this morning.

Real GDP growth (inflation-adjusted) now at only 0.2% as the upward revision in business investment is offset by the downward revision in personal consumption in both goods and services.