US economy grows 5.2% in third quarter; higher interest rates eroding momentum

WASHINGTON, Nov 29 (Reuters) - The U.S. economy grew faster than initially thought in the third quarter as businesses built more warehouses and accumulated machinery equipment, but momentum appears to have since waned as higher borrowing costs curb hiring and spending.

The growth pace, which was the quickest in nearly two years, however, likely exaggerated the health of the economy last quarter. When measured from the income side, economic activity increased at a moderate pace. Nevertheless, the report from the Commerce Department on Wednesday indicated the economy continued to grow despite fears of a recession that have persisted since late 2022.
https://www.reuters.com/markets/us/us-third-quarter-economic-growth-revised-up-52-2023-11-29/

...
Growth outpacing inflation, which stands at this time at 3.2% for the year.

 

Let’s go Brandon!

All he needs to do now is keep pushing with inflation, while we have some of the lowest overall inflation vs our national peers he will have to do slightly more to expel the propaganda and lies from the rightwing that will not doubt be very unhappy with this news.

It does suck that Republican congresscritters have caused our credit rating to be downgraded because they cannot act like adults but news like this is always welcome.

Hopefully voters will vote out the “vermin -djt” from the house so we can have a functioning government again.

 

Meh... we had 2 good years.... that's all we usually get before the idiot voting public feel it's time to put MAGA back in the drivers seat..... again, just to screw it all up..... again...

Rinse.... Repeat....

 

void

 

What good years were those? CPI up over 15% since Biden took over. Real wages down.

 

2021-2022...

 

LOL. Maybe a little gliding on Trump's recovery but nothing that great.

 

2021 WAS the recovery.... from COVID, insurrection, the BIG lie, and rampant corruption at the top...

2022 was the icing

 

Absolutely. 2021 was defined by corruption at that top.

Only if you like bull crap on your cakes.

 

Under brandon people have lived worse lives than ever, and yet dems are convinced that things are actually good.

How easy it is to sell anything to them lol.

Inflation reached its highest point in decades under brandon, and the nation went into auto pilot and is sloooooowly recovering. Prices are still high, peoples wages have not kept up, people suffer more now than in decades, and dems cheer lmao.

SMH.

Trump gave us a great economy, and dems ruined it.

 

The country has never experienced 5.2% growth under Trump.

• 2017: +2.3%
  
  
• 2018: +3%
  
  
• 2019: +2.2%
  
  
• 2020: -3.7%
  

 

Thats because the economy was good. A good economy doesn't grow as much as a bad one that has no where to go but up.

 

LoL

In addition to not knowing anything about economics, you proudly display your ignorance here.

Typical MAGA.

GDP Growth:

2021: 5.9%
2022: 2.7%

 

Your inability to understand how growth works is on you. I am correct.

An economy that is poor and has no where to go but up, tends to grow at a higher rate than an economy that is already doing well.

If you dont think that is true, then it is you whom is ignorant of economics.

 

So when Trump left, the economy was bad and Biden got it back on track.

 

Did you think those numbers were something to cheer about while inflation was at 9%?
Too funny

 

Historical inflation
Historical gas prices
Historical grocery prices
Thats what lefties call getting back on track?
Where do you get your Koolaid from

 

When Trump left, the unemployment rate was 6.7%.

Biden put 13 million Americans back to work.

Today, the unemployment rate is 3.9%.

Putting so many consumers back to work creates growth and, incidentally, inflation.

But the central bank's monetary policies have brought it down to 3.24%.

Too funny.

 

Brandon did nothing but exist lol. Our economy went on auto pilot and corrected despite brandon.

But regardless, my claim remains true.

A good economy grows at less of a rate than a bad one since a bad one has plenty of room to grow and a good one has far less room.

 

At the height of COVID UE was 13.5%. NINE MONTHS LATER it was 6.5%; Trump added 12 million in NINE MONTH

So it took almost 2 years to do what Trump did in nine months.

Nope. Biden created billions of dollars of government spending - THAT caused inflation

Too silly.

 

Objectively false

 

You are incorrect again.

 

I'm right and I can prove it.

When Trump took over after Obama who led one of the worst economies according to rightists, why didn't we experience 5% GDP growth considering a terrible economy has more room for growth?

 

In jan 2021 unemployment was over 6% and thousands were dying daily from covid.

 

More have died under Brandon than anyone from covid.

But Brandon inherited a post lock-in economy. It had no where to go bit up regardless of who was president