Any good news in a storm
CNBC (emphasis mine):
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%.
But wait! There’s more:
Futures tied to the Dow Jones Industrial average gained on Thursday after the economy grew at a faster-than-expected pace in the third quarter.
Dow Jones Industrial Average futures climbed 345 points, or 1.1%. S&P 500 futures added 0.4%. Nasdaq 100 futures were lower by 0.1%.
U.S. GDP increased increased at a 2.6% annualized pace for the period, against the Dow Jones estimate for 2.3% growth. The report, the first quarter of positive growth for 2022, eased investors’ concerns about a recession.
Yes, it’s all technical. Yes, experts don’t expect the trend to continue. Typical Americans won’t feel any different about inflation or their grocery bills. But with so much on the line on November 8, the least Democrats can do is trumpet the good news while acknowledging more needs to be done. They need the break.
Especially since Republicans have no plan of their own to fight inflation.