United States: Economic Momentum Holding, for Now The economy ended 2024 on a solid note with a 2.3% Q4 increase in real GDP.
Summary United States:Economic Momentum Holding, for Now The economy ended 2024 on a solid note with a 2.3% Q4 increase in real GDP . Volatile inventory swings lowered the headline, but real final sales to domestic private purchasers rose by a robust 3.2%. Fervent consumer spending continues to drive economic activity, while inflation is receding at a snail’s pace. That said, trends in the Employment Cost Index suggest that the labor market is no longer a meaningful source of price pressures.
The Bank of Canada and Sweden's Riksbank also lowered their policy rates by 25 bps, and we have updated our forecast to look for an earlier start to Reserve Bank of Australia policy easing.In the emerging economies, Brazil's central bank delivered a hawkish-leaning 100 bps rate hike, and China's PMI data disappointed.
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