3rd-Quarter GDP Misses Expectations With Tepid Print of 2.1 Percent-US News | The Epoch Times

America’s economy expanded at an annualized pace of 2.1 percent in the third quarter, updated Commerce Department figures showed on Nov. 24, and while that’s faster than the earlier “advance” estimate of 2.0 percent, it missed analyst forecasts for a 2.2 percent pace of growth. While Wednesday’s print came in below expectations and sharply lower than the 6.7 percent pace of growth in the second quarter, economists are generally predicting a solid rebound in the final quarter of the year, as long as rising inflation and a recent uptick in COVID-19 cases don’t dampen economic activity. A separate Census Bureau report (pdf) released earlier in the day showed that U.S. exports jumped by 10.7 percent month-over-month in October, prompting analysts at Capital Economics to post an upward revision to their fourth-quarter GDP forecast. “The bigger news this morning was the huge 10.7 percent m/m surge in exports in October, which …

Tom Ozimek

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Traders Expect June Rate Hikes as Biden Confirms Powell’s Second Term-US News | The Epoch Times

Wed Nov 24 , 2021
Wall Street traders are pricing in June rate hikes and further tapering of bond purchases by the Fed after President Joe Biden on Monday picked Jerome Powell to lead the central bank for another four years. From the current near-zero level that began in March 2020, traders expect at least […]

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