{"id":6216,"date":"2021-06-10T15:56:08","date_gmt":"2021-06-10T22:56:08","guid":{"rendered":"https:\/\/insights.cumming-group.com\/?page_id=6216"},"modified":"2024-02-19T13:54:21","modified_gmt":"2024-02-19T21:54:21","slug":"gdp-annual-growth-rate","status":"publish","type":"page","link":"https:\/\/insights.cumming-group.com\/gdp-annual-growth-rate\/","title":{"rendered":"GDP Annual Growth Rate"},"content":{"rendered":"<div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-1 nonhundred-percent-fullwidth non-hundred-percent-height-scrolling\" style=\"--awb-background-position:left top;--awb-border-sizes-top:0px;--awb-border-sizes-bottom:0px;--awb-border-sizes-left:0px;--awb-border-sizes-right:0px;--awb-border-radius-top-left:0px;--awb-border-radius-top-right:0px;--awb-border-radius-bottom-right:0px;--awb-border-radius-bottom-left:0px;--awb-padding-top:10px;--awb-flex-wrap:wrap;\" ><div class=\"fusion-builder-row fusion-row\"><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-0 fusion_builder_column_3_4 3_4 fusion-three-fourth fusion-column-first\" style=\"--awb-bg-blend:overlay;--awb-bg-size:cover;--awb-margin-bottom:30px;width:74%; margin-right: 4%;\"><div class=\"fusion-column-wrapper fusion-flex-column-wrapper-legacy\"><div class=\"fusion-title title fusion-title-1 fusion-title-text fusion-title-size-one\"><h1 class=\"fusion-title-heading title-heading-left fusion-responsive-typography-calculated\" style=\"margin:0;--fontSize:50;line-height:1.17;\">U.S. Annual Gross Domestic Product (GDP)<\/h1><span class=\"awb-title-spacer\"><\/span><div class=\"title-sep-container\"><div class=\"title-sep sep-single sep-solid\" style=\"border-color:#eaeaea;\"><\/div><\/div><\/div><div class=\"fusion-text fusion-text-1\" style=\"--awb-text-transform:none;\"><h2 class=\"fusion-responsive-typography-calculated\" style=\"--fontsize: 32; line-height: 1.5;\" data-fontsize=\"32\"><span style=\"font-weight: normal;\">We expect GDP growth to slow sharply from 4.9% in the 3rd quarter to roughly 1% in both the 4th quarter of 2023 and 1st quarter of 2024, with a 1.61% annual GDP growth for the year 2023.  <\/span><\/h2>\n<p>More than half of the deceleration in the 4th quarter is due to inventory investment, a development that would not be too surprising given the elevated pace of inventory building in the 3rd quarter. The idling of several auto assembly plants from mid-September through most of October also contributed to the slowdown in inventory investment, even as sales remained in line with recent averages. This resulted from the UAW\u2019s strike, which now appears to be resolved.<\/p>\n<\/div><div class=\"fusion-sep-clear\"><\/div><div class=\"fusion-separator fusion-full-width-sep\" style=\"margin-left: auto;margin-right: auto;margin-top:30px;margin-bottom:30px;width:100%;\"><\/div><div class=\"fusion-sep-clear\"><\/div><div class=\"fusion-text fusion-text-2\" style=\"--awb-text-transform:none;\"><div class=\"infogram-embed\" data-id=\"2740e7a1-3195-4554-9f79-f867870e2710\" data-type=\"interactive\"><\/div><script>!function(e,t,s,i){var n=\"InfogramEmbeds\",o=e.getElementsByTagName(\"script\"),d=o[0],r=\/^http:\/.test(e.location)?\"http:\":\"https:\";if(\/^\\\/{2}\/.test(i)&&(i=r+i),window[n]&&window[n].initialized)window[n].process&&window[n].process();else if(!e.getElementById(s)){var a=e.createElement(\"script\");a.async=1,a.id=s,a.src=i,d.parentNode.insertBefore(a,d)}}(document,0,\"infogram-async\",\"\/\/e.infogram.com\/js\/dist\/embed-loader-min.js\");<\/script>\n<\/div><div class=\"fusion-clearfix\"><\/div><\/div><\/div><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-1 fusion_builder_column_1_4 1_4 fusion-one-fourth fusion-column-last\" style=\"--awb-bg-size:cover;--awb-margin-bottom:0px;width:22%;\"><div class=\"fusion-column-wrapper fusion-column-has-shadow fusion-flex-column-wrapper-legacy\"><div class=\"fusion-title title fusion-title-2 fusion-sep-none fusion-title-text fusion-title-size-two\" style=\"--awb-margin-top:0px;--awb-margin-bottom:20px;\"><h2 class=\"fusion-title-heading title-heading-left fusion-responsive-typography-calculated\" style=\"margin:0;--fontSize:32;line-height:1.69;\"><h1 style=\"text-align: center;\"><span style=\"font-color: #c61225; font-size: 20px;\">\u2013 SIGN UP \u2013<\/span><\/h1><\/h2><\/div><div class=\"fusion-sep-clear\"><\/div><div class=\"fusion-separator fusion-full-width-sep fusion-clearfix\" style=\"float:left;margin-top:-15px;margin-bottom:25px;width:100%;\"><div class=\"fusion-separator-border sep-single sep-solid\" style=\"--awb-height:20px;--awb-amount:20px;--awb-sep-color:var(--awb-color6);border-color:var(--awb-color6);border-top-width:4px;\"><\/div><\/div><div class=\"fusion-sep-clear\"><\/div><div class=\"fusion-text fusion-text-3\"><p style=\"font-size: 13px; text-align: center; line-height: 10px;\">Receive a full version of our<\/p>\n<p style=\"font-size: 13px; text-align: center; line-height: 10px;\">construction Market Analysis<\/p>\n<p style=\"font-size: 13px; text-align: center; line-height: 10px;\">each quarter.<\/p>\n<\/div><div class=\"fusion-image-element fusion-image-align-center in-legacy-container\" style=\"text-align:center;--awb-caption-title-font-family:var(--h2_typography-font-family);--awb-caption-title-font-weight:var(--h2_typography-font-weight);--awb-caption-title-font-style:var(--h2_typography-font-style);--awb-caption-title-size:var(--h2_typography-font-size);--awb-caption-title-transform:var(--h2_typography-text-transform);--awb-caption-title-line-height:var(--h2_typography-line-height);--awb-caption-title-letter-spacing:var(--h2_typography-letter-spacing);\"><div class=\"imageframe-align-center\"><span class=\" fusion-imageframe imageframe-dropshadow imageframe-1 hover-type-none\" style=\"-webkit-box-shadow: 3px 3px 7px rgba(25,25,25,0.3);box-shadow: 3px 3px 7px rgba(25,25,25,0.3);\"><img decoding=\"async\" width=\"5100\" height=\"3300\" title=\"CCORP23Q4_Cover\" src=\"https:\/\/insights.cumming-group.com\/wp-content\/uploads\/2024\/02\/CCORP23Q4_Cover.png\" alt class=\"img-responsive wp-image-9208\" srcset=\"https:\/\/insights.cumming-group.com\/wp-content\/uploads\/2024\/02\/CCORP23Q4_Cover-200x129.png 200w, https:\/\/insights.cumming-group.com\/wp-content\/uploads\/2024\/02\/CCORP23Q4_Cover-400x259.png 400w, https:\/\/insights.cumming-group.com\/wp-content\/uploads\/2024\/02\/CCORP23Q4_Cover-600x388.png 600w, https:\/\/insights.cumming-group.com\/wp-content\/uploads\/2024\/02\/CCORP23Q4_Cover-800x518.png 800w, https:\/\/insights.cumming-group.com\/wp-content\/uploads\/2024\/02\/CCORP23Q4_Cover-1200x776.png 1200w, https:\/\/insights.cumming-group.com\/wp-content\/uploads\/2024\/02\/CCORP23Q4_Cover.png 5100w\" sizes=\"(max-width: 800px) 100vw, 400px\" \/><\/span><\/div><\/div><div class=\"fusion-text fusion-text-4\"><p><!-- Begin MailChimp Signup Form --><\/p>\n<style type=\"text\/css\">\n\t#mc_embed_signup{background:#fff; 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