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Early December GDP Nowcasts Show Moderate US Growth For Q4
US economic activity is still on track to slow after strong growth in the third quarter, but recession risk remains low, based on a set of nowcasts compiled by CapitalSpectator.com. Next month’s official Q4 GDP release from the Bureau of Economic Analysis is expected to report the economy expanded by 1.6% (seasonally adjusted annual rate), based on the median for a set of estimates. Today’s revised nowcast marks a sharp deceleration from Q3’s strong 5.2% increase. Note, however, that today’s Q4 nowcast also reflects a firmer rate of expansion compared with the previous 1.2% for the current quarter, published ... (full story)