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WASHINGTON—Following an upward revision to third quarter 2022 real gross domestic product (GDP) and stronger-than-expected incoming personal consumption data to begin the fourth quarter, the economy is now expected to eke out positive growth of 0.4% in 2022 before entering a modest recession in the new year, according to the December 2022 commentary from the Fannie Mae Economic and Strategic Research (ESR) Group.

GERMANTOWN, Md.—It required a great deal of “hard work” for SkyPoint FCU to finally close on a $7-million investment as part of the U.S. Treasury’s new Emergency Capital Investment Program (ECIP), but now the credit union is saying all of the hours and effort are worth it since the funds will bring the cooperative “transformative growth.”