Advanced US GDP growth numbers are out. The third quarter saw real growth after inflation of 2.6%. That's a significant improvement over the 1.6% and 0.6% drops in the first and second quarters of 2022.
But it's unlikely to persuade the Federal Reserve to put off its next expected rate hike in November.
According to the Bureau of Economic Analysis, "The increase in real GDP reflected increases in exports, consumer spending, nonresidential fixed investment, federal government spending, and state and local government spending, that were partly offset by decreases in residential fixed investment and private inventory investment." Also, a drop in imports, which are counted as reductions in GDP as the production doesn't happen domestically, helped.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
