US GDP - 2023-10-25

At 4.9%, Q3 real GDP split the difference between the Atlanta Fed's model at 5.4%, and the consensus at 4.5%. By avoiding the dreaded 5-handle, maybe this keeps the Fed from imagining too much prosperity will cause inflation. But it's a boom. If you have to find something to be skeptical about, worry about strong inventory growth (but you can tell yourself that will buffer future inflation impulses).