Kiplinger’s GDP Outlook: GDP Growth at the End of 2022 Will Not Last

The economy is slowing, despite third-quarter growth of 3.2%, and fourth-quarter GDP growth likely above 2%, when it is reported on Jan. 26. Recent signs of economic weakness: a second consecutive month of industrial production declines, and a continuing drop in housing starts. Even the strong labor market is showing hints of a slowdown, with a drop in hours worked, that is widespread across industries, plus reports of mass layoffs by major corporations. The odds of a recession starting later in the year are about 60%.

Original article: https://www.kiplinger.com/economic-forecasts/gdp