U.S. GDP accelerated at 2.6% pace in Q3, better than expected as growth turns positive

[Mainecat]

U.S. GDP accelerated at 2.6% pace in Q3, better than expected as growth turns positive

 

Source: CNBC

The U.S. economy posted its first period of positive growth for 2022 in the third quarter, at least temporarily easing inflation fears, the Bureau of Economic Analysis reported Thursday. GDP, a sum of all the goods and services produced from July through September, increased at a 2.6% annualized pace for the period, against the Dow Jones estimate for 2.3%. 

That reading follows consecutive negative quarters to start the year, meeting a commonly accepted definition of recession, though the National Bureau of Economic Research is generally considered the arbiter of downturns and expansions. The growth came in large part due to a narrowing trade deficit, which economists expected and consider to be a one-off occurrence that won’t be repeated in future quarters. GDP gains also came from increases in consumer spending, nonresidential fixed investment and government spending. 

Declines in residential fixed investment and private inventories offset the gains, the BEA said. “Overall, while the 2.6% rebound in the third quarter more than reversed the decline in the first half of the year, we don’t expect this strength to be sustained,” wrote Paul Ashworth, chief North America economist at Capital Economics. “Exports will soon fade and domestic demand is getting crushed under the weight of higher interest rates. We expect the economy to enter a mild recession in the first half of next year.” 

The report comes as policymakers fight a pitched battle against inflation, which is running around its highest levels in more than 40 years. Price surges have come due a number of factors, many related to the Covid pandemic but also pushed by unprecedented fiscal and monetary stimulus that is still working its way through the financial system.

Read more: https://www.cnbc.com/2022/10/27/us-gdp-accelerated-at-2point6percent-pace-in-q3-better-than-expected-as-growth-turns-positive.html 

[ArcticCrusher]

Give it a rest moron.

[racer254]

6 minutes ago, ArcticCrusher said:

Give it a rest moron.

At least he understands that the democrats own this recession.

[Mainecat]

4 minutes ago, ArcticCrusher said:

Give it a rest moron.

Really…your a Canadian who spends his entire day following me and others around on a quasi US snowmobile forum criticizing US politics? And you add nothing to thread topics?

And I’m the moron?

Go on bash good US economic news like a good troll….lmao putz

[$poorsledder$]

2 hours ago, Mainecat said:

U.S. GDP accelerated at 2.6% pace in Q3, better than expected as growth turns positive

 

Source: CNBC

The U.S. economy posted its first period of positive growth for 2022 in the third quarter, at least temporarily easing inflation fears, the Bureau of Economic Analysis reported Thursday. GDP, a sum of all the goods and services produced from July through September, increased at a 2.6% annualized pace for the period, against the Dow Jones estimate for 2.3%. 

That reading follows consecutive negative quarters to start the year, meeting a commonly accepted definition of recession, though the National Bureau of Economic Research is generally considered the arbiter of downturns and expansions. The growth came in large part due to a narrowing trade deficit, which economists expected and consider to be a one-off occurrence that won’t be repeated in future quarters. GDP gains also came from increases in consumer spending, nonresidential fixed investment and government spending. 

Declines in residential fixed investment and private inventories offset the gains, the BEA said. “Overall, while the 2.6% rebound in the third quarter more than reversed the decline in the first half of the year, we don’t expect this strength to be sustained,” wrote Paul Ashworth, chief North America economist at Capital Economics. “Exports will soon fade and domestic demand is getting crushed under the weight of higher interest rates. We expect the economy to enter a mild recession in the first half of next year.” 

The report comes as policymakers fight a pitched battle against inflation, which is running around its highest levels in more than 40 years. Price surges have come due a number of factors, many related to the Covid pandemic but also pushed by unprecedented fiscal and monetary stimulus that is still working its way through the financial system.

Read more: https://www.cnbc.com/2022/10/27/us-gdp-accelerated-at-2point6percent-pace-in-q3-better-than-expected-as-growth-turns-positive.html 

Don't forget to tell us how cheap gas is now as well....

[Highmark]

Curious how the Fed will take this information.   

[spin_dry]

I can’t wait for the gop to start running things.  

that crazy Greene gets a big mouth piece. 

[Jimmy Snacks]

 

[stinkipinki]

All those "numbers" are cherry picked nonsense.
We are still in a recession, and the billions of dollars this Biden Administration has printed off means things will continue to get much worse before they get better. Todays inflation is worse then its ever been in our Country, ever.

The last 2 years have shown why Liberals usually lose much more then they win, and what happens when they do.
The Country will go back to red in Mid-terms, and DeSantis will be the President in 24, or 28.
Then, and only then will this country get back on track.

[Mainecat]

Good economic news = BAD

[ArcticCrusher]

1 minute ago, Mainecat said:

Good economic news = BAD

Give it a rest moron.

All bullshit.

[jdsky]

All of that growth was driven by exports of oil, gas and weapons to ukraine.  The number is real but the average American will have no fucking clue as to what the actual reason for the uptick in growth was and that it is ZERO reason to celebrate.  This thread is a perfect example.