#USGDPUpdate The U.S.economy has shown remarkable resilience in 2024, with growth consistently exceeding expectations.
Key Drivers
Growth has been primarily fueled by:
· Strong Consumer Spending: The labor market remains solid, supporting steady household income and spending, particularly on services.
· Resilient Business Investment: Investment in equipment and intellectual property has remained positive.
· Government Expenditure: Continued federal and state spending has provided underlying support.
Recent Data & Market Focus
· Q2 2024 (Second Estimate): Real GDP increased at an annual rate of 2.7% (slightly revised up from 2.5%), according to the Bureau of Economic Analysis.
· The Big Question for Markets: The focus has shifted from "recession risk" to how persistent inflation and a strong economy will influence the Federal Reserve's timing for interest rate cuts. Strong GDP data can delay expected rate cuts.
