Loading ...US growth could be weakest in more than two years but latest data might not affect Fed’s next move
PUBLISHED 3 HOURS AGOUPDATED 2 HOURS AGO
- Second quarter GDP is the final major economic report before the Fed meets Tuesday and Wednesday, and it is expected to show growth below 2%, the weakest in more than two years.
- Economists and market strategists say the report, to be released Friday morning, could be important to the markets but less so to the Fed, which has indicated it is on a rate cutting path despite the data.
- Economic reports for the third quarter have been improving but the second quarter could continue to show weakness, particularly in the contrasting sluggishness of business and manufacturing and the strength of the consumer.