US economy grew 3.2% in Q3, an upgrade from earlier estimate

The rise in gross domestic product — the economy's output in goods and services — marked a return to growth after consecutive drops in the January-March and April-June periods.

Thursday's GDP report was the Commerce Department's third and final look at the July-September quarter. The first look at the fourth quarter comes out Jan. 26. Forecasters surveyed by the Federal Reserve Bank of Philadelphia expect the economy to grow again the last three months of the year — but at a slower, 1% annual rate.

“Despite a rapid increase in interest rates, the economy is growing and importantly, households are still spending,″ Rubeela Farooqi, chief U.S. economist at High Frequency Economics, said in a research note. “However, looking ahead, in 2023, we expect a slower growth trajectory.″

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US economy grew 3.2% in Q3, an upgrade from earlier estimateWASHINGTON (AP) — Shrugging off rampant inflation and rising interest rates, the U.S. economy grew at an unexpectedly strong 3.2% annual pace from July through September, the government reported Thursday in a healthy upgrade from its earlier estimate of third-quarter growth. Ukraine effect Rdmdmber shen they told us there were a million jobs created snd it was actually ten thousand Just means Jerry Powell gonna raise rates even more.
Source: AP - 🏆 728. / 51 Read more »

U.S. economy grew 3.2% in Q3, an upgrade from earlier estimateShrugging off rampant inflation and rising interest rates, the U.S. economy grew at an unexpectedly strong 3.2% annual pace from July through September, the government reported Thursday in a healthy upgrade from its earlier estimate of third-quarter growth.
Source: WashTimes - 🏆 235. / 63 Read more »