Despite the positive surprise in GDP, some economists warned that the US is not out of the woods when it comes to a recession.
"The economy grew decently in 2022 -- the fears of a recession underway in the first half of last year were misplaced. However, the picture is different looking forward. The trend in real GDP weakened into year-end, and other economic indicators suggest the economy was on the cusp of contracting at the turn of the year," Comercia Bank chief economist Bill Adams said in a statement on Thursday.
"Headline GDP was very strong beating consensus suggesting robust economic activity and if recession were to materialize a softer recession. However, the drivers behind this growth are far from ideal," Ash Alankar, the head of global asset allocation at Janus Henderson Investors said in a statement. Alankar noted that personal consumption came in below expectations and the personal savings rate came in above expectations, a sign that consumers are already pulling back from spending out of caution.parents and brother if they got any money from the collapsed crypto exchange, lawyers said.
The New York Times, Stanford University, Coinbase, and Netflix are among FTX's creditors, according to a
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Stock market news today: Indexes climb as GDP, Tesla beat expectationsUS stocks rise as GDP data and Tesla earnings come in better than expected Isn’t it nice when good news is actually good news
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