Economic Update: GDP Revised Down To 4.9% In Q3

In the latest economic update, our GDP, encompassing all the goods and services we produce, increased by 4.9% in Q3 this year, revised down from the initial 5.2%. Consumer spending decreased, leading to this revision. Notably, food prices experienced a 2.9% increase, as reported by the latest Consumer Price Index. While personal income received a boost, it fell short of initial expectations. Of concern is the record-high credit card debt that has been accrued. To delve deeper into these economic developments, David Stryzewski, CEO of Sound Planning Group joins OAN's Alicia Summers.