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

Don’t put too much stock in the economy’s positive showing for the third and fourth quarters of last year

By David Payne | Kiplinger 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%. READ FULL ARTICLE>>