The government is expected to report stellar growth for the U.S. economy during the July-September quarter, highlighting the durability of consumer and business…
Thursday’s report is sure to be seized upon by the Biden administration as evidence that its policies have helped spur solid growth, though surveys show that most Americans hold a sour view of the president’s handling of the economyThe government is expected Thursday to report stellar growth for the U.S. economy during the July-September quarter, highlighting the durability of consumer and business spending despite the Federal Reserve's efforts to cool the expansion with high interest rates.
The Commerce Department's figures are expected to show that the nation’s gross domestic product — the economy’s total output of goods and services — expanded at a 3.8% annual pace in the third quarter, according to a survey of economists by FactSet. If accurate, that would amount to the fastest quarterly pace in nearly two years and up sharply from a 2.1% growth rate in the April-June quarter.
The economy faces other challenges as well, including a spike in longer-term interest rates since July. The average 30-year mortgage rate is approaching 8%, a 23-year high, putting home buying out of reach for many more Americans. If those trends continue, it could allow the Fed to achieve a highly sought-after"soft landing," in which the central bank would manage to slow inflation to its 2% target without causing a deep recession.
Immigration is a net positive for the U.S. economy, the singularity raises worker concerns and net zero claims are falling short: Nouriel RoubiniFed officials were surprised by a blowout government report last week on retail sales, which showed that spending at stores and restaurants jumped last month by much more than expected.
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Strong US economic growth for last quarter likely reflected consumers' resistance to Fed rate hikesThe government is expected to report stellar growth for the U.S. economy during the July-September quarter, highlighting the durability of consumer and business spending despite the Federal Reserve’s efforts to cool the expansion with high interest rates.
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Strong US economic growth for last quarter likely reflected consumers' resistance to Fed rate hikesThe government is expected to report stellar growth for the U.S. economy during the July-September quarter, highlighting the durability of consumer and business spending despite the Federal Reserve’s efforts to cool the expansion with high interest rates.
Leer más »
Strong US economic growth for last quarter likely reflected consumers' resistance to Fed rate hikesThe government is expected to report stellar growth for the U.S. economy during the July-September quarter, highlighting the durability of consumer and business spending despite the Federal Reserve’s efforts to cool the expansion with high interest rates.
Leer más »
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