Did the economy end 2022 with a bang or a whimper?

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New York

Recession alarm bells are sounding. But are they premature?

Yes, retail sales tumbled in December as inflation took its toll on consumers. The manufacturing sector is contracting. And several prominent CEOs are talking about the increased likelihood of a downturn during recent quarterly earnings conference calls.

But the United States economy still seems to be chugging along just fine after experiencing a hiccup in the first half of 2022.

We’ll know more on Thursday, when the US Bureau of Economic Analysis provides its first estimate of gross domestic product (GDP) for the fourth quarter. GDP is the most comprehensive snapshot of economic activity, including consumer, business and…

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