us economy
Low US Weekly Jobless Claims, Solid Consumer Spending Showcase Economy’s Strength
October 31, 2024
By Lucia Mutikani WASHINGTON (Reuters) -The number of Americans filing new applications for unemployment benefits fell to a five-month low last week and consumer spending increased more than expected in September, showcasing the economy's strength heading into the final stretch of 2024 and just days before next Tuesday's presidential election. Though prices pushed higher last month, inflation is firmly on a downward trend, with other data on Thursday showing labor costs posting their smallest gain in more than three years in the third quarter. The data likely keeps the Federal Reserve on track to cut interest rates next week and possibl...
GlobalData Pares Back US Economy Growth to 0.3% in 2023
GlobalData | February 14, 2023
High inflation levels far above the Fed Reserve’s target of 2% and the consequent tightening of monetary policy, which has been hiked eight times from January 2022 to February 2023, will continue to dampen household spending and investments in the US, which will negatively impact the economic growth prospects. As a result, the real GDP growth of the US is set to slow down from 2.1% in 2022 to 0.3% in 2023, forecasts GlobalData, a leading data and analytics company. GlobalData’s latest report, “Macroeconomic Outlook Report: United States,” reveals that the real household consumption expenditure increased by 2.4% in 2022 and is forec...
