US national accounts data – no sign that interest rates are working the way economists think they work

Created
Mon, 30/10/2023 - 13:29
Updated
Mon, 30/10/2023 - 13:29
On October 26, 2023, the US Bureau of Economic Analysis published the latest US National Accounts figures – Gross Domestic Product, Third Quarter 2023 (Advance Estimate) – which showed that “Real gross domestic product (GDP) increased at an annual rate of 4.9 percent in the third quarter of 2023”. The June-quarter 2023 growth rate was…