Bloomberg expects the U.S. economy to improve next year with a slight rise in unemployment, supporting expectations that the Federal Reserve will keep interest rates high for longer.
According to the agency, US gross domestic product is expected to grow 1.8 percent in the third quarter of 2023, nearly 4 times the forecast for July, which showed growth of 0.5 percent. The U.S. economy is expected to grow in the fourth quarter of 2023 instead of contracting, growing 2 percent on average this year and 0.9 percent next year.
Source (Al-Arabiya.net Website, Edited)
