US Economy Exceeds Expectations in 3rd Quarter; However, Income Numbers Paint a Different Picture
According to the Bureau of Economic Analysis’ second estimate on Wednesday, real U.S. gross domestic product (GDP) grew by 5.2% in the third quarter of 2023. However, the figures are somewhat skewed, as the real gross domestic income (GDI) rate only increased by 1.5%, indicating that the U.S. economy only expanded moderately.