Strong Jobs Growth in September
Mixed Jobs Report for October

Real GDP up 4.9% in Third Quarter

New data released by the BEA yesterday indicates that the U.S. economy is growing at a rapid clip. The first (advance) estimate of real GDP growth in the third quarter of 2023 is 4.9 percent. The graphic below shows quarterly real GDP growth since the beginning of 2021. The growth estimate for our most recent quarter is the strongest in nearly two years!


If we take the GDP growth along with low unemployment rates (3.8% in September), it is clear that the U.S. economy is not struggling right now. 

Yes, there are some troubling issues on the horizon, like higher consumer debt, high and rising federal budget deficits, and relatively high interest rates.  However, the Federal Reserve has reduced inflation rates significantly over the past 18 months and the the economy still chugs along.