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Bullmoose39 t1_j603ese wrote

This is positive news and can we stop talking about recession. A recession is multiple quarters negative growth. Not almost 3% growth in the GDP. Time to start looking at other reasons for costs going up, and it isn't wage growth.

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pab_guy t1_j60ef0j wrote

If that's 3% YoY it may not be growth at all factoring in inflation.

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neuronexmachina t1_j6189hm wrote

It's real GDP, which adjusts for inflation. Without factoring inflation the growth would be 6.5%: https://www.bea.gov/news/2023/gross-domestic-product-fourth-quarter-and-year-2022-advance-estimate

> (GDP) increased at an annual rate of 2.9 percent in the fourth quarter of 2022 (table 1), according to the "advance" estimate released by the Bureau of Economic Analysis. In the third quarter, real GDP increased 3.2 percent.

> ... Current‑dollar GDP increased 6.5 percent at an annual rate, or $408.6 billion, in the fourth quarter to a level of $26.13 trillion. In the third quarter, GDP increased 7.7 percent, or $475.4 billion (tables 1 and 3).

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pab_guy t1_j61cylq wrote

So it appears we have broken the back of inflation while retaining growth? At least for the moment?

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