(DCWatchdog.com) – BREAKING: While it may be too late to help President Joe Biden and the Democrats running in tight races in the midterm elections that will conclude early next month, the Gross Domestic Product (GDP) jumped more than “experts” predicted and for the first time this year turned positive.
As CNBC shared the news right after the latest numbers came out:
“The U.S. economy posted its first period of positive growth for 2022 in the third quarter, at least temporarily easing inflation fears, the Bureau of Economic Analysis reported Thursday.
“GDP, a sum of all the goods and services produced from July through September, increased at a 2.6% annualized pace for the period, against the Dow Jones estimate for 2.3%.
“That reading follows consecutive negative quarters to start the year, meeting a commonly accepted definition of recession, though the National Bureau of Economic Research is generally considered the arbiter of downturns and expansions.” [emphasis added]
CNBC added the following context:
“The report comes as policymakers fight a pitched battle against inflation, which is running around its highest levels in more than 40 years. Price surges have come due to a number of factors, many related to the pandemic but also pushed by unprecedented fiscal and monetary stimulus that is still working its way through the financial system.” [emphasis added]
What is your reaction to the better-than-expected news about the GDP turning positive at a higher number than predicted? Do you think it will have any impact on how Americans vote in the election that is underway? Please share your thoughts and opinions by emailing [email protected]. Thank you.
THIS IS A BREAKING NEWS REPORT FROM THE DC WATCHDOG.
JUST IN – U.S. GDP grew by 2.6% in Q3 — better than expected. pic.twitter.com/E4XAuPmBIN
— Disclose.tv (@disclosetv) October 27, 2022