Apollo's Chief Economist: The US economy is experiencing a "soft landing" with no signs of a recession
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Apollo's Chief Economist Torsten Slok pointed out that the US economy is heading towards a soft landing with no signs of a recession. Analyzing recent employment data, he found that the unemployment rate dropped from 4.3% to 4.2%, despite the slight decrease in the number of employed individuals. Wage growth accelerated to 3.8%, surpassing pre-pandemic levels. Consumer spending remains robust, and corporate profits are at historical highs, with the third-quarter economic growth rate expected to be 2.1%. Slok stated that these signs indicate that the economy is not heading into a recession
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