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A pair of economic reports just released showed the continued mixed nature of the U.S. economy.
The Bureau of Economic Analysis issued a delayed first estimate of gross domestic product for the third quarter, showing a surprisingly strong 4.3% pace of growth. That was led by increased consumer and government spending, as well as capital investment in artificial intelligence by business.
However, consumer moods darkened further in December, with worries about inflation, the labor markets and politics chief among concerns. Still, this has largely been the case for much of the year even as Americans have continued spending.
The Conference Board’s consumer confidence index declined 3.8 points to 89.1 in December. Economists had predicted a slight gain.
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