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Consumer spending, which accounts for more than two-thirds of economic activity, grew at a 3.7% pace. That was revised up from the previously estimated 3.5% rate.
Economists polled by Reuters had forecast retail sales, which are mostly goods and are not adjusted for inflation, advancing 0.6% after a previously reported 0.7% rise in November. Retail sales ...
Economists had forecast construction spending would gain 0.3% in November after a previously reported 0.4% rise in October. It increased 3.0% on a year-on-year basis in November.
Americans are heading into 2024 more optimistic about the health of the economy than they have been in months. The Conference Board reported Wednesday that its Consumer Confidence Index, a measure ...
"Solid increases in energy and food prices at the end of 2024 underpin our forecast of a 0.4% monthly gain in the Consumer Price Index in December. If realized, the annual rate of inflation will ...
GDP growth in 2024 significantly outpaced other advanced economies, fueled by robust consumer spending. The third quarter of 2024 saw an annualized GDP growth of 3.1%, revised up from 2.8%.
The Federal Reserve is scheduled to hold its final two-day meeting of 2024 on ... pandemic by encouraging consumer spending to support the economy. ... in 2025 or if it revised its forecast down ...
Recent data has shown a cooling — though still historically tight — labor market, and inflation continuing to decelerate. Hatzius believes there will be "more of the same" in 2024.