U.S. grew 2.9% in third quarter, GDP shows, and there's little sign of recession for now

[Yo_Mama_Been_Loggin]

The numbers: The economy grew at an annual 2.9% pace in the third quarter, updated figures show, and the U.S. is on track to expand again in the waning months of 2022 despite growing worries of recession.

Gross domestic product, the official scorecard for the economy, was revised up from a 2.6% rate of growth in the preliminary reading issued last month. GDP had shrunk in the first two quarters of the year.

The economy is forecast to expand again in the fourth quarter running from October to December, but estimates vary from as much as 4% to less than 1%. All figures are adjusted for inflation.

Key details: The main engine of the economy, consumer spending, increased at a solid 1.7% annual clip in the third quarter, the government said. Previously the increase was put at a softer 1.4%.

https://www.marketwatch.com/story/u-s-grew-2-9-in-third-quarter-gdp-shows-and-theres-little-sign-of-recession-for-now-11669815688

Thank you Dark Brandon

[BigmanPigman]

1. And the "liberal media" is silent.

If there is not a story that instills fear, which leads to higher ratings and big $$$ for the companies, then you will not hear about it. Only 1 month ago "INFLATION WILL CAUSE A RED WAVE" was running 24/7 on cable news, etc.

[Ray Bruns]

2. But, but, but, what about the Biden recession?

(As I have recently seen on a RW website comments)

[IronLionZion]

9. Reports of recession have been greatly inflated (pun intended)

The US economy has been surprisingly resilient despite Fed efforts to slow it down.

[Ray Bruns]

10. Ha!

[chriscan64]

3. Pre-election coverage was dismal, including PBS.

They constantly reported on polls about how more voters thought the gop would be better for the economy, but they collectively pulled a Chuck Todd and asked no follow up questions. Like "why?" or "which party actually does better according to data?" They reported on ignorance with no attempt to educate or inform.

The economy is complex, with cause and effect lingering from one administration to the next. Trump was able to brag about Obama's low unemployment numbers and Biden was saddled with Trump's mishandling of covid exacerbating the economic impact not to mention the return of bad indicators whenever the rich have their taxes cut. The media should investigate and report on the realities, not defer to Joe from the diner for economic theory.

[Johnny2X2X]

4. Funny how the markets go down with good economic news

Never before in our history have the needs of the rich and the working class diverged so much.

[Johonny]

5. Don't worry the new GOP house will make sure there is a recession

That's what they were elected to do, make everyone suffer.

[48656c6c6f20]

6. Dark Brandon is the recession murderer

[70sEraVet]

8. Good gif!

[louis-t]

7. The whiny right wingers I know are already saying

"we're in a recession right now." They don't really know what a recession is. All they know is, they want a recession so they have something else to beat Biden over the head with.