5 Top Growth Stocks to Buy as Fear of Recession Ebbs

Economic Overview - The U.S. economy expanded at an annualized pace of 3.3% in Q4 2023, with a total growth of 2.5% for the year [1] - The Federal Reserve maintained the benchmark overnight borrowing rate and indicated three quarter-percentage-point interest rate cuts by the end of 2023, marking the first cuts since March 2020 [1] Consumer Spending - Retail sales increased by 0.6% in February 2023, recovering from a 1.1% decline in January, with spending rising in seven of the past ten months [2] - The resilience in consumer spending is attributed to a strong labor market and rising average hourly earnings [2] Leading Economic Indicators - The Conference Board's leading indicator advanced by 0.1% in February 2023, marking its first increase since February 2022, suggesting economic improvement [3] Investment Opportunities - The stock market is positioned for growth, with recommendations to invest in growth stocks such as: - American Woodmark (AMWD): Zacks Rank 1, Growth Score B, expected earnings growth rate of 14.4% [4] - Burlington Stores (BURL): Zacks Rank 1, Growth Score A, expected earnings growth rate of 22.1% [4] - Central Garden & Pet (CENT): Zacks Rank 1, Growth Score B, expected earnings growth rate of 10.6% [4] - DHI Group (DHX): Zacks Rank 1, Growth Score B, expected earnings growth rate of 80% [5] - Amazon.com (AMZN): Zacks Rank 2, Growth Score A, expected earnings growth rate of 40.7% [5]