Once Again, US GDP Growth Surprised Forecasters; Consumption Price Index Plateaus

The Bureau of Economic released its first “advance” estimate of growth of real gross domestic product for 3Q-23 Oct. 26; it rose 4.9% on an annual basis, surprising nearly all forecasters. For example, in the last Blue Chip Economic Indicators published in early October, the consensus forecast for 3Q real GDP growth was 3.5%. Economists surveyed a…