2023-01-25 21:21:18

GDP report could show solid fourth-quarter growth but still signal a recession is coming, economists say

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CNBC
By Patti Domm

Key Points

  • Fourth-quarter gross domestic product will be released at 8:30 a.m. ET on Thursday.
  • It is expected to show that the economy slowed, but still grew at a solid 2.8% pace in the fourth quarter over the third, according to Dow Jones.
  • Economists are looking for signals of how weak or strong the consumer actually was at the end of 2022, since that could signal whether the U.S. will fall into a recession or not in the near future.

A truck hauls a shipping container at Yusen Terminals (YTI) on Terminal Island at the Port of Los Angeles in Los Angeles, California

Mike Blake | Reuters

Economic growth is expected to have slowed slightly in the fourth quarter but was still solid, driven by a strong consumer.

Economists will be studying Thursday's report on U.S. gross domestic product carefully for signs of how strong or weak the consumer actually was at the end of 2022. Retail sales suggest spending fell off sharply as the year came to an end. GDP is reported at 8:30 a.m. ET.

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