{"id":2131150,"date":"2023-12-21T18:28:04","date_gmt":"2023-12-21T23:28:04","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/economic-update-gdp-revised-down-to-4-9-in-q3\/"},"modified":"2023-12-21T18:31:33","modified_gmt":"2023-12-21T23:31:33","slug":"economic-update-gdp-revised-down-to-4-9-in-q3","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/economic-update-gdp-revised-down-to-4-9-in-q3\/","title":{"rendered":"GDP in Q3 revised down to 4.9% in economic update"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">20<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Feconomic-update-gdp-revised-down-to-4-9-in-q3%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2131150&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div class=\"entry-content\">\n<h2>OAN&#8217;s Alicia Summers<\/h2>\n<h3>3:15 PM \u200d\u2013 Thursday, December \u206421, 2023<\/h3>\n<p>In the latest economic update, our GDP, encompassing all the \u2062goods and services we produce, increased by \u200d4.9% in Q3 this \u200dyear, revised down from the\u200c initial 5.2%.<\/p>\n<p>However, consumer spending has decreased, leading to this revision.<\/p>\n<p>Notably, food prices have also experienced a\u2063 2.9% increase, as reported by the \u200blatest\u200d Consumer Price Index.<\/p>\n<p>While\u2062 personal income received a boost, it \u200cfell short \u2064of initial expectations. Of concern is the record-high\u2063 <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/nasa-worker-sentenced-to-18-months-in-prison-after-lying-to-govt-for-pandemic-benefits\/\" title=\"NASA worker sentenced to 18 months in prison after lying to govt. for pandemic benefits\">credit card debt<\/a> that has been accrued.<\/p>\n<p>To delve deeper into \u200dthese\u200b economic \u200cdevelopments, David Stryzewski,\u200c CEO of\u200d Sound Planning Group, joins OAN&#8217;s Alicia Summers.<\/p>\n<figure class=\"wp-block-video\">\n<video autoplay controls loop poster=\"https:\/\/c3.oann.com\/wp-content\/uploads\/2022\/04\/vid-poster-image.jpg\" src=\"https:\/\/d1cc0p6j4uj4n9.cloudfront.net\/a119e6d4-79c6-435d-99c4-c47951c9086a\/mp4\/2b0608a2-698d-4619-8854-973e8d4b055b_Mp4_Avc_Aac_16x9_1280x720p_30Hz_3.5Mbps_qvbr.mp4\"><\/video><br \/>\n<\/figure>\n<p class=\"dpsp-share-text\" style=\"margin-bottom:10px\">Share this \u200cpost!<\/p>\n<\/div>\n<div class=\"entry-content\">\n<h3>Latest \u200cEconomic Update<\/h3>\n<ul>\n<li>Our GDP increased by\u2062 4.9% in Q3 this year, revised down from \u2062the initial 5.2%.<\/li>\n<\/ul>\n<\/div>\n<div class=\"entry-content\">\n<h3>China&#8217;s Intentions on Taiwan<\/h3>\n<ul>\n<li>During President Biden&#8217;s meeting with China&#8217;s Xi \u2064Xinping last month, the \u200dChinese leader allegedly told him\u2063 China \u200dstill \u200cintends\u2062 on taking Taiwan.<\/li>\n<\/ul>\n<\/div>\n<div class=\"entry-content\">\n<h3>Unvaccinated Workers in New York City<\/h3>\n<ul>\n<li>Some\u200d unvaccinated New York City workers spoke in \u2064front of \u200dcity council, claiming\u200b that the city is\u2064 preventing them from returning to work.<\/li>\n<\/ul>\n<\/div>\n<div class=\"entry-content\">\n<h3>Salmonella Outbreak Linked to \u2062Cantaloupe<\/h3>\n<ul>\n<li>A\u200d Salmonella outbreak linked to cantaloupe is on the rise\u2063 in both the U.S.\u2062 and Canada.<\/li>\n<\/ul>\n<\/div>\n<div class=\"entry-content\">\n<h3>Tesla&#8217;s Battery Production\u2063 Challenge<\/h3>\n<ul>\n<li>One of the\u2063 main bottlenecks\u200c for Tesla is the speed at\u200b which it\u200c can produce the 4680 batteries\u200d used in the Cybertruck with its new <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/navy-vet-defends-beheading-satanic-statue\/\" title=\"Navy vet supports beheading Satanic statue\">dry-coating technology<\/a>.<\/li>\n<\/ul>\n<\/div>\n<div class=\"entry-content\">\n<h3>Lawsuit Against OpenAI and Microsoft<\/h3>\n<ul>\n<li>A group of 11 nonfiction authors \u200dhave joined a lawsuit \u2064in Manhattan federal court, accusing OpenAI and Microsoft of\u2064 misusing their books to train their models.<\/li>\n<\/ul>\n<\/div>\n<div class=\"entry-content\">\n<h3>Tesla&#8217;s Remote Access Concern<\/h3>\n<ul>\n<li>San \u2064Francisco police Sergeant David Radford contacted Tesla \u200babout \u2064data on an alleged stalker&#8217;s\u2062 <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/report-georgia-secretary-of-state-brad-raffensperger-neglected-to-protect-georgians-by-allowing-dominion-voting-machines-in-elections-he-didnt-prevent-fraud-he-provided-f\/\" title=\"REPORT: Georgia Secretary of State Brad Raffensperger Neglected to Protect Georgians By Allowing Dominion Voting Machines in Elections \u2013 He Didn\u2019t Prevent Fraud \u2013 He Provided for It\">remote access<\/a> to a vehicle.<\/li>\n<\/ul>\n<\/div>\n<div class=\"entry-content\">\n<h3>Google&#8217;s Antitrust\u200b Settlement<\/h3>\n<ul>\n<li>Google will pay $700 million and revamp \u200bits \u200cPlay app store\u2063 to allow for greater \u200dcompetition as part of an\u2064 antitrust settlement with U.S. states and consumers.<\/li>\n<\/ul>\n<\/div>\n<p> <\/p>\n<h2> \u2064What are the potential causes for the decline in consumer spending despite the overall growth \u200cin\u2062 the economy?<\/h2>\n<p><span>  OAN&#8217;s Alicia\u200b Summers:\u200b A \u200cDiscussion on the Latest Economic Update<\/p>\n<p>On Thursday, December 21, 2023, the One America News (OAN) team brought us the latest economic update. According to the report, the Gross Domestic Product (GDP), which \u200dencompasses all the goods and services our country produces, increased \u2064by a revised 4.9% in the third quarter of this\u2064 year. This \u2064revision was lower than \u200bthe initial estimation of 5.2%.<\/p>\n<p>However, this positive update is overshadowed by declining consumer spending, which has led to the revision. Despite the\u200b overall growth in the economy, it is evident that people are hesitant \u200dto spend their money.\u200d This decrease in consumer spending poses \u2063a potential risk to economic stability.<\/p>\n<p>In addition to reduced \u2062consumer spending, the report\u2063 highlights a concerning development in\u200c food prices. The latest Consumer Price Index \u2064indicates a marked increase of 2.9% in food \u2063prices. Such \u2062inflationary pressure \u200con essential \u2062commodities can significantly impact households, especially those with\u2063 lower \u2064incomes. It \u200bis essential for policymakers to \u2062carefully monitor these \u2064price increases and take appropriate action to mitigate their impact on\u2064 the\u2063 population.<\/p>\n<p>While personal income has received a boost, it falls \u2062short of initial \u2064expectations. The incomplete fulfillment of income expectations\u200c is a potential \u2064cause for the decline in consumer spending. It is crucial for individuals \u2064to have confidence and security in their income to be willing to spend. Therefore,\u200d this issue should not be taken lightly, as\u200d it \u200dmay have broader \u200dconsequences for the overall economy.<\/p>\n<p>Another pressing concern is the record-high credit card debt that individuals have\u200c accumulated. It is crucial to address this issue promptly and devise strategies to reduce the burden of credit card debt on individuals. High levels of debt can burden households,\u2063 leading to financial instability and <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/existing-home-sales-fall-in-september-as-high-mortgage-rates-freeze-market\/\" title=\"September saw a decline in existing home sales due to the freezing effect of high mortgage rates.\">reduced economic activity<\/a>.<\/p>\n<p>To gain further insights \u2062into\u200d these economic developments, Alicia Summers of OAN invited\u200d David Stryzewski, the CEO of \u2063Sound Planning Group, to discuss the matter. With his expertise, Stryzewski can\u200b shed light on the potential causes, impacts,\u2062 and possible solutions to the identified \u200deconomic issues.<\/p>\n<p>As we navigate \u200bthese uncertain economic times, it is essential to remain informed and vigilant. The economic update provided by OAN serves as\u2064 a \u200dvital resource \u200dfor understanding the current state of our\u200b economy. It is crucial to analyze these \u2062figures, identify potential risks, \u200cand\u200c work towards sustainable economic growth.<\/p>\n<p>In conclusion, the latest economic update reveals a growth rate of \u20634.9% in\u2064 the GDP during the third quarter of 2023.\u200c However, this positive trend is dampened by decreasing consumer spending, an increase in food prices, \u200dunfulfilled income expectations, and record-high credit \u200dcard debt.\u200b These issues warrant careful attention and proactive \u2064measures \u200dto ensure economic stability and the welfare of individuals and households. The discussion between Alicia Summers and David Stryzewski\u2063 promises to shed light on potential strategies and solutions to address\u2062 these pressing economic concerns.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>OAN&#8217;s Alicia Summers reports that the GDP grew by 4.9% in Q3, lower than the initial 5.2%. Consumer spending decline caused this revision. Additionally, food prices rose by 2.9%<\/p>\n","protected":false},"author":1753,"featured_media":2131151,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[542],"tags":[],"class_list":["post-2131150","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2131150","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1753"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2131150"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2131150\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2131151"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2131150"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2131150"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2131150"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}