U.S. GDP grew 2.9% in Q4 2022 compared to the prior year but slowed down from the 3.2% growth reported in Q3.  Consumer spending, which makes up a significant part of the U.S. GDP, slowed but remained positive, rising 2.1%, down from 2.3% reported in the previous quarter. Federal spending rose 6.2%, and state and local spending rose 2.3%. Government spending makes up about 0.64% of GDP. Business investment rose 0.7% as companies cut back on spending. Residential fixed investment fell 26.7%, and exports fell 1.3%. Despite growing concerns about the U.S. economy going into recession, it has remained resilient, though it is showing signs of slowed growth. The Fed is expected to announce a lower rate increase at their scheduled meeting next week. U.S. inflation fell to 6.5% in December from 7.1% reported in November. Jobless claims fell 6,000 to a seasonally adjusted 186,000 for the week ended Jan. 21.