US pulls out of 'technical recession' with strong GDP growth in Q3

2.6% annualised rate rise

Valeria Martinez
clock • 2 min read

The US economy grew for the first quarter this year, with GDP rising at a 2.6% annualised rate in the July to September period after falling in the first two quarters of 2022.

According to the "advance" estimate released by the Bureau of Economic Analysis, US GDP came in above economist's expectations of 2.4% growth for the quarter. This follows a 0.6% annualised rate decrease in the second quarter of 2022 and a 1.6% decrease in the first quarter. Despite not officially entering recession earlier this year, as US recessions are decided by the country's National Bureau of Economic Research, two quarters of negative GDP growth is seen as a 'technical recession' amongst many economists, being the standard for recession in countries such as the UK. The increase...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now


Already an Investment Week


More on US