Economy Set to Defy Recession Worries With Projected Growth in Q3

Market Overview Analysis by James Picerno covering: . Read James Picerno's latest article on Investing.com

If a recession in the US has started or is imminent, the threat has yet to show up in the latest run of nowcasts for third-quarterThe median estimate, based on numbers compiled by CapitalSpectator.com, continues to indicate moderate growth, albeit at a softer pace vs. Q3.

“The solid growth picture in August points to robust GDP growth in excess of 2% annualized in the third quarter, which should help allay near-term recession fears,” advises Chris Williamson, chief business economist at S&P Global Market Intelligence. “The underpinnings of the economy look good. Broadly speaking, things look pretty solid,” says Karen Dynan, an economics professor at Harvard University. “When we enter the typical recession, there is usually some underlying weakness. It just doesn’t feel that way now.”

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