US GDP Data to Show Temporary Boost from Summer-Spending Frenzy
- Business investment probably slowed, Bloomberg Economics says
- Consumers may soon feel the impact of higher interest rates
A factory floor in Bowling Green, Kentucky.
Photographer: Luke Sharrett/BloombergThis article is for subscribers only.
US economic activity probably expanded at a nearly 5% annualized rate over the last three months amid a bevy of temporary tailwinds, according to Bloomberg Economics.
The first official look at gross domestic product for the July-to-September period, due Thursday from the Bureau of Economic Analysis, is set to show strength in consumer spending alongside slower growth in business investment, Bloomberg economist Eliza Winger said Wednesday in a preview of the numbers.