U.S. Economic Growth Accelerates, Defying Slowdown Expectations

Economy grew 2.4% last quarter, suggesting the U.S. is steering clear of recession.

The Wall Street Journal reports on new economic data released Thursday, July 27, 2023, suggesting that the U.S. economy is expanding more quickly than anticipated. Experts are weighing whether the United States might be able to avoid a recession.

- links to ad -

"Faster economic growth this spring raises the prospect of a longer postpandemic expansion despite the Federal Reserve pushing interest rates to a two-decade high. Gross domestic product grew at a seasonally- and inflation-adjusted 2.4% annual rate in the second quarter, [according to] the Commerce Department .... That was faster than economists expected and [higher than] ... 2% [first-quarter] growth .... Consumer spending [decreased] but rose enough to drive overall growth alongside much stronger [second-quarter] business investment .... As inflation falls from historic highs and the labor market remains strong, solid growth adds to the prospect of a soft landing ... [with] inflation [getting] close to the Federal Reserve’s 2% target without a recession. ..."

Click here for: "U.S. Economic Growth Accelerates, Defying Slowdown Expectations Economy grew 2.4% last quarter, suggesting the U.S. is steering clear of recession." - WSJ 7.27.23 - SCW Newswatch

Key Words: U.S. Economic Growth, GDP, Recession, Interest Rates, Labor, Economy

[please be sure to consider clicking the support button, to support this web project and related efforts]

Cash

Any health-related, legal, scientific, investment- or business-related, or other content provided on these site(s) or domain(s) is for informational purposes only, and/or to invite further reflection, research and analysis, and not for the purpose of providing medical, legal or any other kind of professional advice. All investment activity can carry risk, and these sites and domains assert no opionion or guidance regarding any investor's undertaking of any investment decision. Under no circumstances do these sites or domain(s), establish an attorney-client relationship or any similar or analogous type of relationship, professional or otherwise. Use of these site(s) and domain(s) is only permitted under, and constitutes agreement with, those or similar conditions and limitations, as expressed now, or as might be revised in the future.