Stronger Consumer Spending Boosts Fourth Quarter GDP Estimate
The U.S. economy ended last year growing at an even stronger pace than previously thought, government data showed on Thursday. Gross domestic product, the economy’s official scorecard, grew at an annual rate of 3.4% in the last three months of 2023. According to previous forecasts, the economic growth rate was 3.2%. Figures are adjusted for […]
China Slightly Lowers 2024 GDP Growth Target as Economy Languishes
China set an official target for gross domestic product (GDP) growth of around 5% in 2024 in Premier Li Qiang’s “Government Work Report” submitted to the National People’s Congress on Tuesday morning. The 2024 target was about the same as the 5.2% GDP growth rate reported in 2023. China’s state-owned Global Times was popular Mr. […]
China sets modest GDP target as it faces regional tensions and an ageing population | China
China has set a GDP growth target of 5% and expects another year of historic growth, in line with analysts’ expectations. Modest economic ambitions amidst regional tensions and a demographic crisis. Chinese Premier Li Qiang released his annual government work report on Tuesday and spoke about the “challenges” facing China’s leaders. He cited global economic […]
UK regional growth gap to widen as London pulls further ahead | Economic growth (GDP)
The report says that despite the government’s promise to raise standards, London’s economy is moving further ahead and Britain’s sharp regional disparities are set to worsen. On Wednesday, ahead of Treasurer Jeremy Hunt’s Budget, accountancy firm EY said London and large areas of south-east England were forecast to experience stronger economic growth than the rest […]
Q4 GDP revised down slightly – here’s what that means for interest rates
The second forecast for fourth-quarter gross domestic product (GDP) was relatively flat in this week’s second round of statistics. (iStock) of Secondary estimate According to the U.S. Bureau of Economic Analysis (BEA), real gross domestic product (GDP) for the fourth quarter of 2023 has been revised downward slightly, in part because private inventory investment was […]
The Real Story Behind the Revised GDP Numbers
No room for reduction in Fed’s revised GDP value The pace of economic growth in the third quarter may not have been as fast as initially expected, but nuances in the data cast doubt on premature predictions that the Federal Reserve will cut rates aggressively in the near term. reveals important insights. of Secondary estimates […]
US Dollar Trims Early Gains After US Q4 GDP Report, Gold Nudges Higher – DailyFX
US dollar and gold analysis and price The U.S. economy remained strong in the fourth quarter of 2023. After the announcement, the US dollar fell and gold rose slightly. Recommended by Nick Corey Get Free USD Forecast The second forecast released today showed that the U.S. economy expanded steadily at 3.2% in the fourth quarter, […]
Euro (EUR/USD) Pares Recent Losses After German and Euro Area Q4 GDP Releases – DailyFX
EUR/USD Forecast – Prices, Charts, Analysis The third quarter revision will help Germany avoid a technological recession. Eurozone growth was flat in the fourth quarter. Learn how to trade euro/usd With our free guide: Recommended by Nick Corey How to trade EUR/USD Most read: Markets a week ahead: Fed and BOE decisions, US jobs report, […]
Strong GDP Numbers Once Again Humiliate Forecasters
Wall Street continues to misunderstand the economy The American economy grew at a challenging pace last year. Forecasting an impending recession The Fed has raised interest rates seven times so far and has signaled more rate increases. Bond yields have reversed, leading indicator indexes have worsened for the ninth consecutive month, and the moonshot pandemic […]
US fourth quarter GDP beats expectations and recession odds
Personal consumption boosted growth in the fourth quarter. (iStock) US Gross Domestic Product (GDP) 4th quarter The U.S. Bureau of Economic Analysis (BEA) said forecasts for 2023 were better than expected, pushing predictions of a recession further out. Real GDP grew at an annual rate of 3.3% in the October-December period, after increasing 4.9% in […]