If feds starts cutting rates means economy is gloomy
U.S. Q3 GDP Growth Revised Lower to 4.9% Growth in Third Estimate
US Gross domestic product increased at a 4.9% annualized rate last quarter, revised down from the previously reported 5.2% pace, the Commerce Department's Bureau of Economic Analysis said in its third estimate of third-quarter GDP.It was still the fastest pace of expansion since the fourth quarter of 2021. Economists had expected GDP growth would be unrevised at a rate of 5.2%.The economy, which grew at a 2.1% pace in the second quarter, has been expanding at a pace far above what Fed officials
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