US GDP Data Will Feature Consumer Set to Power Growth in ’24
- Forecasters see robust end to 2023 carrying into new year
- Lower inflation ‘effectively acting as a tax cut,’ Dutta says
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Forecasters who follow the US economy found themselves in a familiar place after a recent retail sales report: revising up their estimates for GDP.
Quarterly data on gross domestic product due Thursday from the Bureau of Economic Analysis is expected to show the economy expanded at a 2% annual rate in the final three months of 2023, fueled by 2.5% growth in household spending.