The U.S. economy expanded at a faster pace than initially reported in the third quarter, growing at a 5.2% annualized rate, according to the Commerce Department. However, recent data suggests a loss of momentum, with slowing consumer spending and a less robust labor market. While the revision reflects increased business investment and government spending, concerns arise as higher borrowing costs impact hiring and consumption. The Federal Reserve's rate hikes have totaled 525 basis points since March 2022, and signs of a potential economic slowdown prompt speculation about the future direction of interest rates.

SOURCE: GOOGLE