Business Highlights: US growth rate upgraded; GM says it can handle...
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Published date: July 5, 2024
- Location: 3028 Sb, Silver Valley, Nova Scotia, Canada
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US economic growth for last quarter is revised up to a 5.2% annual rate
WASHINGTON (AP) - Shrugging off higher interest rates, America´s consumers spent enough to help drive the economy to a brisk 5.2% annual pace from July through September, the government said in an upgrade from its previous estimate. The government had previously estimated that the economy grew at a 4.9% annual rate last quarter. In the current fourth quarter, though, economists say growth is likely slowing sharply from the cumulative effects of higher borrowing rates on consumer and business spending. TD Economics, for example, expects growth in the October-December period to come in at a 1.8% annual rate.
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US economic growth for last quarter is revised up to a 5.2% annual rate
WASHINGTON (AP) - Shrugging off higher interest rates, America´s consumers spent enough to help drive the economy to a brisk 5.2% annual pace from July through September, the government said in an upgrade from its previous estimate. The government had previously estimated that the economy grew at a 4.9% annual rate last quarter. In the current fourth quarter, though, economists say growth is likely slowing sharply from the cumulative effects of higher borrowing rates on consumer and business spending. TD Economics, for example, expects growth in the October-December period to come in at a 1.8% annual rate.
If you adored this post and you would certainly such as to obtain even more facts regarding Valentine's Day Trivia kindly see our web site.
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