Strong economy but inflation hard to tame! The US Q4 GDP grew steadily by 2.3%, and core PCE was unexpectedly revised up
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The U.S. economy is expected to grow steadily at an annualized rate of 2.3% by the end of 2024, with consumer spending increasing by 4.2%. However, the core PCE price index was unexpectedly revised up to 2.7%, indicating stubborn inflation. Despite high interest rates and rising living costs putting pressure on low-income households, many Americans continue to benefit from wage growth and job opportunities. GDP growth is projected to be 2.3% in 2024, as slowing job growth suppresses consumer demand. Business investment is weak, with equipment spending declining by 9%
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