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Asharq Al-Awsat
Asharq Al-Awsat
Business
Asharq Al-Awsat

US Growth Expected to Slow in Fourth Quarter as Downturn Fears Loom

US economic growth is expected to have slowed in the final months of 2022, but a strong labor market could provide support this year. SPENCER PLATT / GETTY IMAGES NORTH AMERICA/AFP/File

The US economy is forecast to have grown but at a slower pace in the final months of 2022, helped by consumption and business investment although recession fears loom.

Economic activity has been easing as the US central bank hiked the benchmark lending rate seven times last year, in hopes of cooling demand and reining in costs as inflation surged, AFP said.

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