Research & Analysis
Strong Economic Indicators Emerge in Q2
- 2024-08-29
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The revised estimate for the U.S. Q2 GDP surpassed expectations, increasing to 3% compared to the initial forecast of 2.8% growth.
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Core Personal Consumption Expenditures (PCE), an essential measure of inflation favored by the Federal Reserve, demonstrated a decrease to 2.8% when it was anticipated to remain at 2.9%.
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The initial and continued jobless claims indicated a moderate deceleration, pointing to a lower unemployment rate.
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The latest data mitigated concerns of a wider economic downturn, enhancing the likelihood that the U.S. economy might evade a severe recession and alleviate fears of a sharp decline in the labor market.
Despite positive data, the GDP Price Index came in higher than anticipated, which initially caused a downturn in U.S. equity futures.
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