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The U.S. economy rose at a 0.6% rate in the third quarter following two consecutive quarters of decline. Despite the increase, that hasn't put recession concerns on the back burner.
While the overall economy may have expanded, consumer spending is slowing, down to 1.4% from 2% last quarter, as the impact of the fastest growth in inflation in 40 years hits pocketbooks. Although durable goods orders were up 0.4% in September, that was slightly below consensus estimates. Controlling for transportation, which can be volatile due to large single orders of new planes, ships, etc., this metric actually fell 0.5% for the period compared to a 0.2% increase in August.
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Source Fool.com
