5 things to know about a stunning week for the economy
Prolly not. 🤷♂️
The U.S. economy continues to defy gravity.
Data this week showed the economy growing at the fastest pace in nearly two years from July to September. Other reports have also showcased the resilience of the economy.
It's a stunning development, considering that at the beginning of the year, many economists predicted that the economy would tip into a recession as a result of the Federal Reserve's aggressive interest rate hikes.
So what gives?
Here are five takeaways about today's economy, including why forecasters are cautioning that the strong growth may not last.
The economy's strength has been a surprise
The economy got its latest report card this week — and it was very good.
The U.S. economy grew at an annual pace of 4.9% in the third quarter…
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"The economy is just incredibly resilient, navigating through lots of different headwinds and posting a really boomy-like quarter," said Chief Economist Mark Zandi of Moody's Analytics.
