Recession Concerns Ease: Can the U.S. Sustain Its Momentum?
The U.S. Conference Board Consumer Confidence Index rose to 100.3 in July 2024, up from a revised 97.8 in June. For Q2 2024, the U.S. GDP grew at an annualized rate of 2.8% in a preliminary reading, a notable increase from the 1.4% growth in Q1 2024. The Eurozone's annual Consumer Price Index (CPI) rose to 2.6% in July 2024, up from 2.5% in June. This slight increase was driven mainly by a jump in energy prices, which rose by 1.3% compared to 0.2% in the previous month. The US Core PCE which...
Fed Rate Cut Locked In? All Eyes on PCE!
The latest S&P Global US Manufacturing PMI for June 2024 has been revised to 51.6, slightly lower than the expectation of 51.7 but up from 51.3 in May. In its most recent decision in June, the Bank of Canada (BoC) reduced its key interest rate by 25 basis points, lowering it from 5% to 4.75% in response to easing inflation indicators. In the first quarter of 2024, the US economy expanded at an annualized rate of 1.4%, slightly surpassing market expectations of 1.3%. This growth marked a...
Fed's Dovish Surprise: Will PCE Amplify Further Next Week?
In January, the U.S durable goods orders have fell 6.1% vs -4.5% expected, marking the largest decrease in nearly four years, while business investment in equipment appeared to have eased, indicating a decrease in economic momentum at the beginning of the year.The UK's Gross Domestic Product (GDP) experienced a contraction of -0.3% in Q4, worse than the expected decline of -0.1%. This downturn was attributed to declines across all primary sectors and caused the UK to enter a technical recession.
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