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.
It comes after Musk posted a poll this weekend on the social media platform formerly known as Twitter that came out 70% in favor of the Infowars host, who repeatedly has called the 2012 Sandy Hook school shooting a hoax.
Flood watches are in effect in New York, New Jersey, Connecticut and southern New England through Monday. The National Weather Service says 3 to 5 inches of rain is expected across parts of Long Island and southern Connecticut, with other areas in line for 2 to 3 inches.
Emergency workers and community members cleaned up Sunday from the severe weekend storms and tornadoes that also sent dozens more to the hospital while damaging buildings, turning over vehicles and knocking out power to tens of thousands.
