by Erik Sherman
Forbes
The advance estimate of gross domestic product — call it the economy for short —in the third quarter that ended September 30 was a 2.8% annualized real GDP. A slight slowdown from the second quarter’s 3.0% is still growth. As for inflation, it may well hit 2.0% when the Personal Consumption Expenditures (PCE) price index comes out tomorrow, as Goldman Sachs projected earlier in October.
Good news if accurate, and even if not, given the rate at which inflation has been dropping, hitting 2% should be in the immediate future if not tomorrow. With growth continued and the labor market where it seems to be, this seems like the definition of a so-called soft landing.