In late January, the U.S. Department of Commerce reported that the gross domestic product (GDP) had increased 3.3% in the fourth quarter of 2023, a sign that the economy in the United States is growing. GDP — the total market value of the final goods and services produced within the United States in a year — helps inform decisions on taxes, spending, hiring, investing and interest rates.

Visit Show Me Mizzou for a Q&A with University of Missouri economics professor Joe Haslag as he breaks down what the report means for consumers.