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Source: US Department of Commerce Source: US Department of Commerce <br />3/22 6/22 9/22 12/22 <br />0.9% 1.4% 1.5% 0.9% <br />1.0% -2.8% -1.8% 0.7% <br />-3.1% 1.2% 2.9% 0.5% <br />-0.4% -0.2% 0.2% 0.4% <br />0.0% -0.1% 0.4% 0.3% <br />-1.6% -0.6% 3.3% 2.7% <br />Federal Government Expenditures <br />State and Local (Consumption and Gross <br />Investment) <br />Gross Private Domestic Investment <br />Personal Consumption Expenditures <br />Components of GDP <br />Net Exports and Imports <br />Total <br />-35.0%-30.0%-25.0%-20.0%-15.0%-10.0%-5.0%0.0%5.0%10.0%15.0%20.0%25.0%30.0%35.0%40.0% <br />Gross Domestic Product (GDP) <br />GDP QOQ % Change <br />GDP YOY % Change <br />Gross Domestic Product (GDP) <br />According to the s econd estimate,fourth quarter 2022 GDP growth was revised downward to 2.7%from 2.9%.The revision lower was primarily <br />due to weaker growth in personal consumption expenditures,driven largely by a decline in durable goods,and a wider trade gap in net <br />exports. The consensus estimate calls for 0.6% growth in the first quarter and 0.8% growth for the full year 2023. <br />10