Several updated nowcasts for US economic activity in the fourth quarter have been revised sharply higher recently, but the median estimate barely changed, based on the several data points from a range of sources compiled by CapitalSpectator.com. The US economy still, as a result, still looks set to slow in the final quarter of the year via the median nowcast.
Daily Archives: December 17, 2024
Macro Briefing: 17 December 2024
US economic activity accelerated to a 33-month high in December, according to the US Composite, a survey-based GDP proxy. “Business is booming in the US services economy, where output is growing at the sharpest rate since the reopening of the economy from COVID lockdowns in 2021,” says Chris Williamson, chief business economist at S&P Global Market Intelligence. “The service sector expansion is helping drive overall growth in the economy to its fastest for nearly three years, consistent with GDP rising at an annualized rate of just over 3% in December.”
