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An uptick in third quarter GDP wasn’t enough to trigger a rally in U.S. major stock indices. Data out Thursday showed a slight downturn in new hires. File photo by John Angelillo/UPI | License Photo
Dec. 22 (UPI) — Inflationary strains have yet to deal a major blow to the U.S. economy with data Thursday showing a rebound in third quarter GDP and a slight dip in hiring.
The Commerce Department on Wednesday revised its estimate for third quarter gross domestic product, from an increase of 2.9% to 3.2%, which was attributed in large part to an increase in consumer spending.
We’ll have to wait for up-to-date data on consumer spending. Retail sales last month declined 0.6% from the prior month, though Thanksgiving shopping was a record-setter this year.
Disposable income among U.S. consumers, meanwhile, increased by $242.4 billion in the third quarter, an upward revision of $6.6 billion, though…
