### Summary
The US economy is forecasted to grow at a rate of 5.8%, causing concern for the Federal Reserve and those hoping interest rates will remain low.
### Facts
- 🔥 The US economy is predicted to grow by 5.8% according to the Federal Reserve Bank of Atlanta.
- 💸 Recent strength in retail sales, auto sales, housing starts, and industrial production have contributed to this economic forecast.
The Federal Reserve's long-held belief that the US economy had reached its long-term growth potential of 1.8% is being challenged as strong growth continues, driven by unexpected labor force growth, manufacturing construction, and potential improvements in productivity, prompting a larger conversation about the country's economic potential.
Thailand's economy grew at a slower-than-expected pace in Q2 2023 due to weak exports and slower investment, prompting the government to downgrade its 2023 growth forecast to 2.5-3.0%, leading to speculations that the central bank may not raise rates again this year.
Mexican economy is forecasted to grow by 2.9% in 2023, while the Mexican peso is expected to trade just under 18 to the US dollar by the end of the year, according to a survey of analysts by Citibanamex.
Russia's Finance Minister, Anton Siluanov, has stated that the country's economy is expected to grow by 2.5% or more in 2023, with inflation predicted to be around 6%.
The US economy grew at a slower pace in the second quarter, but still showed more strength than expected, with GDP revised down to 2.1% from an initial 2.4%; however, forecasts indicate a robust reading in the third quarter of 2.5% or higher, despite concerns of a potential recession.
The U.S. economy grew at a 2.1% annual rate in the second quarter, showing resilience despite higher borrowing costs and a slight downgrade from the initial estimate of 2.4%, driven by consumer spending, business investment, and government outlays.
Annual core inflation in Mexico slowed to a 20-month low in August, below market forecasts, as the central bank maintains high interest rates to curb price increases.
The U.S. economy is expected to expand at a 2.2% annual rate in the current quarter, according to a real-time estimate from the New York Federal Reserve, which is lower than the Atlanta Fed's estimate of 5.6% growth; the strength of the economy will impact the Federal Reserve's decision on interest rates and inflation.
Mexico's southern region is experiencing double the economic growth of the national level, driven by investment and construction projects, according to the Finance Ministry.
The U.S. Latino economy has grown to $3.2 trillion in 2021, surpassing the GDP of several countries and driving growth in states like California, Texas, and Florida, according to a report by the Latino Donor Collaborative.
Russia's economy is expected to grow by 1.5% this year, defying previous projections of contraction and proving more resilient than expected to Western sanctions due to rising oil prices and new export markets, though an eventual slowdown is still predicted.
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