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Thursday’s GDP report expected to show the U.S. economy at a crossroads
Economic growth likely slowed to its weakest pace in a year and a half to end 2023, possibly setting the stage for a more pronounced slowdown ahead, according to Wall Street economists. The consensus outlook for the fourth quarter is that gross domestic product grew at a 2% seasonally adjusted annualized pace, slicing downward from the 4.9% in Q3 and the lowest reading since the 0.6% decline in the second quarter of 2022. As the Commerce Department’s report hits Thursday morning, Wall Street’s attention almost immediately will turn to what the signs are for growth going into 2024. The report likely will ... (full story)