Great GDP

The U.S. economy grew at a stunning 4.9% annualized rate in 23Q3, defying slowdown predictions and up from 2.1% in 23Q2. Consumer spending, inventory growth, net exports, government spending, and residential investment were all strong. But this cannot continue. Consumer spending will slow as consumers have been drawing down savings, ramping up credit card use and now paying off student loans, and government spending will, at best, be flat.