It is the highest since the fourth quarter of 2021... Reflecting the upward revision of inventory and government spending
From the fourth quarter, the growth trend is slowing... Atlanta Kite has a 2.1% outlook%
It was found that the economic growth rate in the third quarter of the United States laughed at 5% of the annual rate.
The U.S. Department of Commerce said on the 29th (local time) that the median GDP growth rate for the third quarter was 5.2.
The 0.3% upward figure from the breaking report (4.9%) released last month. The market forecast (5.0%) compiled by Wall Street Journal (WSJ) also laughed.
The growth rate for the third quarter is the highest since the fourth quarter of 2021, when the base effect after pandemics was 7.0% growth.
Unlike Korea, the United States publishes GDP statistics by converting its growth rate from the previous quarter to the annual growth rate.
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Consumption expenditure was downgraded from the previous year, but non-resident inventory and local government spending contributed to raising the interim, the Commerce Department explained.
The provisional value reflects the economic activity indicators that were missing during the intercession.
Earlier in the third quarter, the U.S. economy continued to grow strongly, laughing at the trend with increased private inventory investment, exports, and government spending.
Meanwhile, experts say that the US economic growth is likely to slow down in the fourth quarter and the first half of next year, and is likely to be in a weak recession.
While inflation remains high, negative factors are scattered in the game, including high interest rate long-termization, private savings, and resumption of academic loan returns.
It is believed that volatile private inventory investments will also be a factor in ankle growth from the fourth quarter.
The Atlanta Federal Reserve's estimated growth rate model'GDP Now', which is released by the Bank, looked at the US GDP growth rate forecast for the fourth quarter at 2.1.
Faq's
How does the U.S. calculate its GDP growth rate differently from other countries ?
A: Unlike some nations, the U.S. converts its quarterly growth rate to an annual rate, providing a distinct perspective on economic performance.
What factors contributed to the third-quarter growth despite a dip in consumption expenditure?
Non-residential inventory and local government spending played crucial roles in offsetting the decline in consumption expenditure..
What are the anticipated challenges for the U.S. economy in the coming quarters??
Experts foresee a potential slowdown, high inflation, and volatility in private inventory investments as challenges on the horizon.
What does the 'GDP Now' model predict for the U.S. GDP growth in the fourth quarter?
The Atlanta Federal Reserve's 'GDP Now' model predicts a more conservative growth rate of 2.1% for the fourth quarter..
How can individuals stay informed about the evolving economic landscape in the United States?
Regularly following reputable financial news sources and staying updated on economic indicators will help individuals stay informed about the U.S. economic landscape.
