Is the economy recovering? Some factors to consider – Thelocalreport.in

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(NewsNation) — Even among rising prices and a series of aggressive rate increases, there are some indicators that show the economy is headed to a better place, or at least stabilizing.

The government said on Wednesday that the US economy grew at a 2.9% annual rate from July through September. This rise in the US gross domestic product (GDP), or the economy’s total output of goods and services, follows two straight quarters of contraction, according to the Associated Press.

“Despite higher borrowing costs and prices, household spending — the driver of the economy — appears to be holding, which is a positive development for the near-term outlook,” said Rubeela Farooqi, chief US economist at High Frequency Economics.

This news comes at a time when two straight quarters of contraction had raised fears that the economy might have slipped into a recession at an already volatile time for American consumers.

So is the economy improving—or at least recovering?

Ahead of the November jobs report coming out on Friday, here are some items to consider when weighing the economy:

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