The world’s two largest economies, the U.S. and China, reported strong growth in 2023.

In a rare instance of statistical parity, both reported 5.2% annual growth at the end of the third quarter, outperforming most advanced economies and well above overall the three percent global growth, projected by the International Monetary Fund.

In the U.S., inflation looked under control. Having roared to a 40-year high during the pandemic, consumer prices continued their downward trend.