CoStar Economy: Optimism Abounds As the Economy Powers Forward

Optimism Abounds As the Economy Powers ForwardAfter many months of predicting a recession, Wall Street is celebrating recent economic news suggesting that the economy is powering through the Federal Reserve’s interest rate hikes and seems ready to emerge in pretty good shape.

The term soft landing is being bandied about as economic growth accelerates and economy watchers cast off recession calls. According to the Bureau of Economic Analysis, real gross domestic product (GDP) grew by 2.4% annualized in the second quarter of 2023, faster than the first quarter’s 2% annualized rate, and faster than the economy’s overall long-term expected sustainable growth rate..New Paragraph