The U.S. economy was still chugging along as it rounded out 2022, despite rising interest rates and widespread fears of a recession.
The country's gross domestic product (GDP) was up 2.9 percent in the fourth quarter, according to an estimate from the Commerce Department, even as some sectors slowed.
The department said the overall growth reflected higher levels of consumer spending, private inventory investment, and government spending, as well as a drop off in imports.
Manufacturers and utilities led the rise in private inventory investment, with petroleum, coal products, and chemicals seeing the biggest gains.
As for consumer spending, both services and goods fueled the uptick. Health care, housing and utilities topped services, while motor vehicles and parts topped goods.
The data marks a deceleration in real GDP from the 3.2 percent growth in the third quarter, in large part due to falling exports and a drop in nonresidential fixed investment. Specifically, the housing sector has screeched to a halt in response to higher mortgage rates.
Federal police seized 220 pounds of illegal drugs which had an estimated street value of $8 million.
A former captain was found guilty Monday for his role in a deadly boat fire off the coast of southern California that left 33 passengers and one crew member dead in 2019.
Israeli Prime Minister Benjamin Netanyahu says Israel will have “overall security responsibility” in Gaza for an indefinite period after its war with Hamas.
The Gaza director for the United Nations agency for Palestinian refugees says the average Palestinian in Gaza is living on two pieces of Arabic bread made from flour that the U.N. had stockpiled in the region.
The strikes came as the U.S. keeps urging Israel to take a humanitarian pause from its relentless bombardment of Gaza and rising civilian deaths.
A dramatic rise in automobile accidents killing or injuring pedestrians and bicyclists has led to a myriad of policy and infrastructure changes.
President Joe Biden and First lady Jill Biden are traveling to Lewiston Maine to pay their respects to the people who were killed there in a mass shooting last week.
Cheddar News checks in with your coast-to-coast weekend weather forecast for Friday, Nov. 3, 2023.
Cheddar News checks in with your coast-to-coast weekend weather forecast for Friday, Nov. 3, 2023.
Astronaut Thomas Kenneth Mattingly, who helped bring the crew of Apollo 13 back to earth after an explosion threatened their lunar mission, has died at 87.
