Gross domestic product — the broadest measure of economic activity — rose by an annualized rate of 2.6% during the third quarter, according to initial estimates released Thursday by the Bureau of Economic Analysis. That’s a turnaround from a decline of 1.6% in the first quarter of the year and negative 0.6% in the second. Economists had projected third-quarter growth of 2.4%, according to consensus estimates on Refinitiv.
The welcome burst in economic growth was mostly fueled by a rebalancing of imports and exports, with fewer foreign goods shipped to the United States as consumers shifted their attention away from pandemic-fueled spending on sofas, bikes and other durable goods and turned to travel and dining out. “This is the sort of GDP report we should be happy to see at this point in a recovery,” said Dean Baker at the Center for Economic and Policy Research in a note.
Wait for it! CNN will find a way to beat this news down showing President Biden's leadership on the economy.
Love the 2 week out before the midterm report😂😂😂
GFY CNN!! You just cannot report anything good without a mythical doom and gloom caveat attached can you? This is why you are no longer broadcasting across my television screen, therefore neither are your advertisers.
Cable News Ratings Wednesday October 26: Fox News Beats CNN and MSNBC Combined With Younger Viewers
🎉✊
😆 🤣 😂 yeah ok.. no different here with the not rich side of the world.. shit still over priced and until it comes down its shitty as it has been since this clown show took office..
The U.S. GDP just came in at +2.57% Isn’t that great? Wait… trade was 108% of the total growth. How? They drained the Strategic Petroleum Reserves (SPR) and then sold it abroad to juice GDP numbers prior to the mid-term elections.
“Believe us, not your lying eyes”
fake news
Saudi Arabia is going to sell oil to their customers in currencies other than the USD. You haven't seen anything remotely close to bad yet.
It's not over yet folks!
You're talking about recovery since the errors committed?
tell Ted Cruz....
The US
Ireland's Green party member tells people to go into ART Gallery's and throw Beans, maybe it will be paint, or soup.. at famous pictures. To protest. The Government in Ireland is gone and not in the real world. Telling it's people to break the law RESIGN -FOOLS Condemn this
I was correct this recession was pushed by wall street and media ppl, god knows what is the agenda is? Economy has already shrunk due to pandemic from now onwards it should grow for atleast another 5yrs
In other words, better growth than when Trump claimed we had the best economy ever
Why does it have to be adjusted?
Doesn’t matter because the Fed is dead set on tanking the economy, which will only help the rich get richer and the poor to stay poor. It’s rigged.
“This is the sort of GDP report we should be happy to see at this point in a recovery,” said Dean Baker.. “However, with the Federal Reserve continuing to hike rates, and most of the impact of past rate hikes yet to be felt, this could be the last good report we see for a while.”
And all the panelists on CNBC said the recession is coming.
Next week they will adjust the real numbers.
So last gasp of air before it crashes down?
You mean the recession. We were in a recession. It’s what happened after 2 quarters of contraction. Why can’t you say it
Hey how’s our southern border doing? How’s America Crime doing? Do you ever report on issues Americans care about? All I see is Jan 6, Trump, Uvalde,Ukraine and how bad white people are, only on cnnbrk
FakeNews to help Sleepy Joe prior to midterms...like clockwork.
RIGHT! 9.1% Inflation, High Food Prices, Americans Struggling just to put food on the table and buy gas to go to work, while illegal Aliens Flooding our Country. Biden is doing Nothing to help Americans!!! He loves to Give our money to other Countries .
That's great 🇺🇲
Dead cat bounce?
Consumer prices ⬆️⬆️⬆️?
GOP attack ads are going to have to shift to Hunter now 🤣
I hope you understand this CPI numbers are abnormal, right before a an election, nothing to do with people lives reality
Ending strong for the BlueTsunami
This is great news!
Except we're in a f*cking recession
GOP: 'But the economy! The economy!'
Awww look at CNN trying to make it seem this country is getting better ahead of the midterms. Your blind followers didn’t need this though, they will vote D no matter what
And we are doing so much better.
BS....election propaganda...the fear (and reality) of a Red Wave makes desperate media take desperate measures for their leftist agendas. Voters and Americans finally see through this crap and want to take back their country from the Woke and ❄️
Then why is my house still going down in value! FakeNews
Thanks Brandon!
Oh good I can buy that new yacht… look for interest rates to go higher.
The media will be very quiet about the economy now
Great job POTUS . Long way to go, but we're headed in the right direction.
Most people who suffer from an injury do not have to recover on a public stage. John Fetterman, deserves credit — not ridicule — for taking the debate stage Tuesday night, while still recovering from a stroke he suffered in May.
Families still can’t afford food prices. Do you know basic economics? Or do you have to continue posting propaganda that is NOT helping families
hahahhahahahhahahahahhaha
Why are stock portfolios and retirement accounts down 20% to 30%?
Hahaha sure
But the GOP & FauxNews keep saying we’re in a Recession…. 🙄🤦🏻♂️🥴🥶 VoteBlueIn2022
2 weeks before the election this news comes out? I don't buy it
How long before Jake tapper turns this into a negative. 3….2….1…..
So no recession?
Biden getting things done.
Buy gold..
where are we going? Amen
Remember, when the economy is down it’s 100% Biden’s fault, when it’s up it’s just responding to global factors
at this point it is like a ride at the county fare - up and down and up and down and maybe some sick children in the morning