The Japan News on Nostr: US Economy Grew at a Solid 2.8% Pace Last Quarter on Strength of Consumer Spending ...
US Economy Grew at a Solid 2.8% Pace Last Quarter on Strength of Consumer Spending
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The U.S. economy grew at a 2.8% annual rate from July to September 2024; consumer spending rose to 3.7%, up from 2.8%; exports increased at an 8.9% rate; business investment slowed due to drops in housing and nonresidential buildings; equipment spending surged; inflation measured by PCE rose at 1.5%, down from 2.5%; core PCE inflation was 2.2%; GDP growth estimates are preliminary; President Biden noted economic recovery since his taking office; consumer confidence index saw its largest gain since March 2021; job openings fell to their lowest since January 2021; average job additions were 200,000 per month in 2024; Labor Department expected to report 120,000 jobs added in October; Fed cut benchmark rate by half a percentage point, with more cuts expected; inflation remains above pre-pandemic levels.
#UsEconomy #ConsumerSpending #GdpGrowth #Inflation #FederalReserve #JobMarket #EconomicRecovery #BidenAdministration #InterestRates #EconomicIndicators
https://japannews.yomiuri.co.jp/news-services/ap/20241031-219745/
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The U.S. economy grew at a 2.8% annual rate from July to September 2024; consumer spending rose to 3.7%, up from 2.8%; exports increased at an 8.9% rate; business investment slowed due to drops in housing and nonresidential buildings; equipment spending surged; inflation measured by PCE rose at 1.5%, down from 2.5%; core PCE inflation was 2.2%; GDP growth estimates are preliminary; President Biden noted economic recovery since his taking office; consumer confidence index saw its largest gain since March 2021; job openings fell to their lowest since January 2021; average job additions were 200,000 per month in 2024; Labor Department expected to report 120,000 jobs added in October; Fed cut benchmark rate by half a percentage point, with more cuts expected; inflation remains above pre-pandemic levels.
#UsEconomy #ConsumerSpending #GdpGrowth #Inflation #FederalReserve #JobMarket #EconomicRecovery #BidenAdministration #InterestRates #EconomicIndicators
https://japannews.yomiuri.co.jp/news-services/ap/20241031-219745/