The US economy downshifted sharply in the third quarter, based on last week’s initial estimate of gross domestic product (GDP). Is that a warning sign for Q4? No, at least not yet. The early estimates for Q4 suggest a rebound may be brewing.
* House vote expected today on infrastructure bills
* Global food prices rise to 10-year high, UN says
* OPEC rejects US request for more oil output; sticks to modest production plan
* Will transition away from carbon-intensive energy derail economic recovery?
* US trade deficit reaches a new record in September, driven by slumping exports
* US productivity fell to a 40-year low in Q3–probably due to temporary factors
* US jobless claims continue to ease, falling to new pandemic low: