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The US economy grew by 3.3% in Q4 of 2023, surpassing expectations by a significant margin. Economists predict continued growth in 2024, led by consumer spending and a strong labor market.
The hot GDP report may push out timelines for the Fed to cut interest rates, but it also signals the economy probably isn't on the verge of a recession.
The US economy remained shockingly robust in the fourth quarter to close out a remarkably strong 2023 as consumers and businesses continued to spend, crushing expectations of a recession.
Thursday’s Q4 GDP report could show whether the soft landing investors are looking for has already come.
“The vibes are catching up with the hard data on the economy,” Arindrajit Dube, provost professor of economics at UMass Amherst, said in a Friday post.