Posted 10/26/2023, 4:06:25 AM
Strong GDP Growth Defies Recession Fears But Challenges Remain for Fourth Quarter
- Third-quarter GDP growth forecast at fastest pace in nearly 2 years, defying recession warnings
- Consumer spending likely accelerated on higher wages and more stable gas prices
- Business investment seen slowing as fewer factories built
- Inventory accumulation, smaller trade deficit also to boost growth
- Auto strikes, student loan repayments could slow fourth-quarter growth
- Economic resilience shows Fed's aggressive rate hikes working, soft landing possible
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