Third-quarter economic growth was tremendous — so why don’t Americans feel happier about the economy?
: U.S. economic output grew at an annual pace of 4.9 percent in the third quarter of this year, the Commerce Department reported Thursday,private-sector economists
This is not true for other countries. In most of the world, economies are still doing worse today than pre-pandemic forecasts estimated. Which kinda makes sense, given the huge hole that an unforeseen global health crisis blew in every economy.is back down to a number that starts with a 2 . Why is this significant? The Fed’s target inflation rate is 2 percent.
No one knows the answer to either of these questions for sure. But the ambivalent consumer appears to be key to both. Whatever the case, they’re still spending — and they’re a central reason that economic growth has been unexpectedly resilient.
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