The 'Yes, But' Economy. Yes, We're Worried About Recession — But The Economy Remains Resilient

CBS Detroit

December 3, 2022

Each week brings head-scratching contradictory news about the economy. This past week was no different, with a batch of economic reports showing that — despite the recession talk — the US economy shows remarkable resilience.

Yes, the economy is strong. But it comes with a lot of caveats.

Let's review:

• November's jobs report defied analysts' expectations, adding 263,000 new roles and keeping America's jobless rate at 3.7%, almost a half-century low.
• The Federal Reserve's favorite inflation gauge, the PCE Price Index, finally showed signs of cooling.
• Gross domestic product grew at a 2.9% annualized rate last quarter, a sharp bounce back from shrinking in the first half of the year.

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