United States: Real GDP Picks Up Again

According to advance GDP estimates, US real GDP grew at an annualized rate of 2.6% in the third quarter of 2022. After two quarters of contractions, an increase in real GDP is good news. But weak domestic demand suggests it's not all smooth sailing ahead. Things could take a turn for the worse at the end of 2022 or in 2023 as the US economy continues to react to interest rate hikes, which are needed to curb inflation.