Economy Shows Resilience Despite Slowing Consumer Spending
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Q3 GDP growth revised up to 5.2%, showing strong economic growth
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Consumer spending rose less than expected at 3.6%, indicating inflation not solely demand-driven
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Core price component fell showing signs of moderating inflation
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Trade deficit widened in October to $89.8 billion, but not as steep as earlier in 2022
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GM shares surge 9% pre-market on plans to repurchase $10B in stock, retire $6.8B in shares, and boost dividends 33%