- February 2, 2023
- Posted by: Stratford Team
- Category: Economy
The Fed rate announcement is seen on the floor of the New York Stock Exchange (NYSE) in New York City, US, Feb 1, 2023. [Photo/Agencies]
The US economy can”t seem to decide whether it is headed into a recession or not.
Lately there have been some alarming signs, such as the tens of thousands of layoffs at major tech companies and on Wall Street.
But the most recent report on GDP, while a trailing economic number, showed the economy expanded by 2.9 percent in the fourth quarter.
“My interpretation of the latest numbers is that the economy is slowing down but not dramatically,” said Raymond Hill, senior lecturer of finance at the Goizueta Business School of Emory University in Atlanta, to China Daily. “The slowdown seems evident from some of the detail in the GDP numbers: 1.5 percent of the 2.9 percent GDP growth was increases in inventories. This is not a healthy sign: goods produced but not purchased.
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