The US economy grew by 3.2% in the third quarter of the year. The last reading of the growth announced today was revised upwards from 2.9% to 3.2%. In the evaluation, it was stated that exports and consumer expenditures contributed positively to the third quarter growth, while housing investments contributed negatively. 16 out of 22 industry groups contributed to real GDP growth in the third quarter.
The US economy, which went into recession by shrinking by 1.6% in the first quarter of 2022 and by 0.6% in the second quarter, grew by 3.2% in the third quarter. The US Federal Reserve, which also announced its growth forecasts at this month’s FOMC meeting, raised its 2022 growth expectation from 0.2% to 0.5%, while lowering its 2023 growth expectation from 1.2% to 0.5%.
The weekly unemployment benefits, which were announced today and show the current situation in the employment sector in the US economy, increased by 2 thousand people in the last week and rose to 216 thousand people.
According to the data of the US Department of Labor, the average applications for the week of December 17 were 221,000.
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