ECONOMY

U.S. ECONOMY POSTS SOLID 2.8% GROWTH IN Q3, DEFYING SLOWDOWN FEARS

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The U.S. economy continued its robust performance in the third quarter of 2024, with gross domestic product (GDP) expanding at an annualized rate of 2.8%. This slightly missed the 3.1% estimate but was still a strong showing, driven by resilient consumer spending.

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US EMPLOYMENT RATE SOARS HIGH

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U.S. hiring surged in September, exceeding expectations and pushing unemployment down, providing a boost for policymakers ahead of the November election.

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IMF FORECASTS SLIGHTLY SLOWER GLOBAL GROWTH

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The IMF announced on Tuesday that global growth is anticipated to slow modestly to 3.2 percent this year, maintaining that rate through 2025. However, they cautioned that these stable figures conceal "significant" changes occurring at regional and sectoral levels.

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US INFLATION DROPS TO 2.5% AS FED CONSIDERS RATE CUT

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The latest Consumer Price Index (CPI) data released Wednesday showed U.S. inflation cooling to 2.5% in August, marking the slowest pace of price growth since February 2021. This decline from July's 2.9% rate brings inflation closer to the Federal Reserve's 2% target, potentially paving the way for interest rate cuts.

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US CONSUMER INFLATION FALLS TO 2.4% IN SEPTEMBER

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US consumer inflation eased a bit more than anticipated last month, based on government data released Thursday. This trend offers additional signs that price pressures are subsiding as the November presidential election approaches.

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GLOBAL MARKETS TUMBLE AMID GROWING CONCERNS U.S. RECESSION

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Stock markets worldwide plummeted on Monday as weak U.S. economic data fueled concerns of a looming recession in the world's largest economy. The selloff, which began in Asia and spread to Europe, is expected to hit Wall Street hard when trading opens.

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TREASURY YIELDS SURGE PAST 4% AS STRONG LABOR MARKET CHALLENGES RATE CUT EXPECTATIONS

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The U.S. Treasury market experienced a seismic shift Monday as 10-year yields breached 4% for the first time since August, fundamentally altering the landscape for interest rate expectations. This movement, triggered by Friday's surprisingly robust employment data, has forced investors to rapidly recalibrate their outlook on Federal Reserve policy.

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US ECONOMY BEATS GROWTH EXPECTATIONS IN SECOND QUARTER

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US economic growth blew past expectations in the second quarter, boosted by consumer spending and inventory building despite high interest rates, government data showed Thursday, after a slow start to the year.

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