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The U.S. economy has resembled an especially dizzying roller-coaster ride this year, with a hurtling dive followed by a steep climb leading to yet another slide.
On Thursday, when the government issues its first of three estimates of growth in the July-September quarter, it's expected to show an economy slumping from global weakness and reduced corporate stockpiling — but poised to rise again.
Economists' consensus forecast, according to FactSet, is that the economy eked out just a 1.7 percent annual growth rate last quarter, a subpar pace by any standard.
"We got a lot of weakness during the summer from a widening of the trade deficit and a drawdown of inventories," said Mark Zandi, chief economist at Moody's Analytics. "But I think the consumer will lead the way to stronger growth in the fourth quarter." Read more
On Thursday, when the government issues its first of three estimates of growth in the July-September quarter, it's expected to show an economy slumping from global weakness and reduced corporate stockpiling — but poised to rise again.
Economists' consensus forecast, according to FactSet, is that the economy eked out just a 1.7 percent annual growth rate last quarter, a subpar pace by any standard.
"We got a lot of weakness during the summer from a widening of the trade deficit and a drawdown of inventories," said Mark Zandi, chief economist at Moody's Analytics. "But I think the consumer will lead the way to stronger growth in the fourth quarter." Read more
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