BlocksInform
The world's largest economy has just released GDP figures for the last quarter of 2022, showing moderate but lower growth than in the third quarter.
In contrast to most previous reporting from the United States, it has brought little or no immediate volatility to the crypto market, with BTC still above $23,000.
- The overall expectations ahead of the Q4 2022 GDP numbers claimed that the economic growth in the country slowed down during the last three months of last year. Q3 saw an increase of 3.2%, while the estimations now suggested 2.6% for Q4.
- Despite the Halloween and Christmas Holidays, retail sales had declined, showing reduced confidence among consumers.
- However, the actual figures were slightly higher, at 2.9%, rather than the estimated 2.6%. As a result, growth did decelerate in the fourth quarter, but less than anticipated.
- The jobless claims were lower than the estimated – 186,000 versus 205,000.
- Being the world's largest economy, nearly every piece of data usually brings immediate volatility to the stock and crypto markets. While the first is not yet open in the United States, the second has responded with minor price movements, at least for the moment.
- Bitcoin stood at $23,200 after yesterday’s enhanced fluctuations, and it slipped by a few hundred dollars after the numbers came out. However, he recovered almost all the losses fairly quickly, and is trading in excess of $23,000 at the time of this writing.
