Welcome to the FIA News & Insights, a one-stop resource that includes insights from senior investment professionals on timely market events, their views on the economy and their respective markets. Find updates on the latest media information on Frost Investment Advisors, LLC and the most recent reprints, as well as, archival information for your reference.
The Economy Continues to Grow on the Back of Inventories and Income Surge
U.S. economic growth softened in the final quarter of 2022, with GDP growing 2.9% annualized, down from 3.2% in the third quarter. For the year, GDP grew by 2.1%. Fourth quarter growth was driven by personal spending and manufacturing inventories. Fixed investment fell sharply, driven by a contraction in housing. This quarter’s inventory gains may become a drag on GDP expansion in 2023.
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