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.
Google's head of search testified at the company's trial Thursday as it started presenting its defense. The Justice Department in several states alleged that Google violated antitrust law to achieve its dominance in search.
Florida Gov. Ron Desantis said he has arranged to send drones, weapons, and ammunition to Israel.
An Idaho woman is suing her one-time fertility doctor saying he used his own sperm to inseminate her 34 years ago.
Police have recaptured a suspect wanted in connection with the murder of a Washington, DC man, nearly six weeks after the suspect escaped from a local hospital.
The U.S. military said a Chinese fighter jet got within 10 feet of an American bomber over the South China Sea earlier in the week.
Israeli forces backed by fighter jets and drones have carried out a second ground raid into Gaza in as many days. T
The Category 5 storm killed at least 27 people.
The strikes come in retaliation for a slew of drone and missile attacks against U.S. bases and personnel in the region that began early last week.
The ultimate proposal at the ultimate fitness competition.
