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GDP lowered to 2.1%: Wake me up when September ends
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💡Summary: Annualized GDP rose at 2.1% in Q2 2023, below estimates. Economists say the summer was hot for growth, up 3-5% from July to Show More
💡Summary:
Annualized GDP rose at 2.1% in Q2 2023, below estimates.
Economists say the summer was hot for growth, up 3-5% from July to September.

Thursday, the government's main measure of US economic activity was revised lower to 2.1%, below the governments previous estimates. The first quarter saw a revised 2% growth rate. The market reacted positively, hoping lower-than-expected growth would stop the FED from raising rates again.

Despite strong consumer trends, high prices in energy and housing may have drawn down spending. GDP is on it's way up after reaching negative growth in the first and second quarters of 2022. A growth forecast from the Fed of Atlanta estimated a 5.9% growth rate for July to September; a separate forecast by S&P Global Market Intelligence estimated a 3.3% rate, the strongest this year. Economists said growth came from strong consumer activity, while residential construction and business investment declined.

🎙️Q:
1. Do you think lower growth is better to fight inflation?
2. Would you rather have higher stock prices and higher inflation?

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