GDP Rebounds, Up 2.6% After Contracting Past Two Quarters
View Source | October 27, 2022 9:16 am
- The Gross Domestic Product rose 2.6 percent in the third quarter, rebounding from two consecutive quarters of contraction.
- The increase exceeded analysts’ expectations of 2.4% growth for the July-to-September period.
- Analysts warned the rebound should not allay recessionary concerns.
- “Is the economy out of the woods? No,” Joseph LaVorgna, chief economist at SMBC Nikko Securities America and former Trump White House economic adviser, reportedly recently told clients. “The economy frequently generates healthy gains in real GDP around the onset of recession. Indeed, this has happened in four out of the last six downturns.”
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