The United States economy returned to growth in the third quarter by a better-than-expected 2.6%, at least temporarily allaying fears of a recession, the Bureau of Economic Analysis said Thursday, as cited by CNBC and news.ro.

GDP growth exceeds the forecast of Dow Jones analysts by 2.3%.

The U.S. economy has contracted for two straight quarters this year, meeting the accepted definition of a recession, although the National Bureau of Economic Research is generally considered the arbiter of recessions and expansions.

The increase was largely due to a narrowing of the trade deficit, which economists had expected and considered a one-time event that would not repeat itself in subsequent quarters.

The increase in GDP also occurred due to an increase in consumer spending, investment in fixed capital and government spending.

The report shows a continued shift in spending on services versus goods, with premium spending up 2.8% and spending on goods falling 1.2%.

Declines in housing investment and private inventories are dampening earnings, the BEA said.

Overall, while the economy’s return to 2.6% growth in the third quarter largely reversed the decline in the first half of the year, we do not expect this strength to last,” wrote Paul Ashworth, chief economist for North America and North America. Capital economy.

“Exports will soon disappear and domestic demand will be crushed under the weight of higher interest rates. We expect the economy to enter a small recession in the first half of next year,” Ashworth predicts.