GDP Rose More Than Reported 3Q-22, Income And Spending Rose In October While Inflation Cooled

Two important reports from the Bureau of Economic Analysis, the federal government department that tracks the economy, were released last week. Both contained good news. BEA released its second estimate of 3Q-22 real gross domestic product Nov. 30 and reported real GDP rose 2.9%, compared to its “advance” estimate of 2.6%. The growth follows two…