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Keyword: preelectionlies

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  • US economy returned to growth in July-September period after 2 straight negative quarters, expanding at a 2.6% rate

    10/27/2022 10:26:46 AM PDT · by SeekAndFind · 56 replies
    WASHINGTON — US economy returned to growth in July-September period after 2 straight negative quarters, expanding at a 2.6% rate. The U.S. economic growth rebounded strongly in the third quarter amid a shrinking trade deficit, but that overstates the economy's health as domestic demand was the weakest in two years because of the Federal Reserve's aggressive interest rate hikes. The Commerce Department's advance third-quarter gross domestic product report on Thursday also showed residential investment contracting for a sixth straight quarter as the housing market buckles under the weight of surging mortgage rates. While overall inflation slowed substantially from the second...