U.S. Economy Still Strong in Q3 Despite Headwinds, But Growth Expected to Slow in Q4

U.S. economy expected to show strong 4%+ GDP growth in Q3 despite rate hikes, fueled by resilient consumer spending and government hiring

Growth likely to slow in Q4 as savings dry up, loan payments resume, and global instability weighs

Fed rate hikes starting to pinch budgets, causing consumers to cut back on discretionary spending

Wealthy households still flush with pandemic savings, spending big on travel, concerts, movies despite inflation

Strong demand for luxury vacations, though some hesitant to book due to geopolitical turmoil like Ukraine war and Gaza conflict