The United States slows its growth in 2022 1:14
(CNN) --
The US economy grew at an annual rate of 2.7% in the last three months of last year, the Commerce Department reported Thursday.
That figure is lower than the previous estimate of 2.9% growth in the quarter.
The slower rise in gross domestic product, a broad measure of economic activity, could be a sign that the series of sharp rate hikes from the Federal Reserve is having a bigger impact than previously thought.
Other recent economic data, such as the strong January jobs report and the strong rebound in retail sales, suggest that the Federal Reserve could do more to try to curb inflation through higher interest rates aimed at slowing the economy.
News in development.
US economy