The US GDP grew at a brisk 5.2% annual pace from July through September, driven by consumer spending. However, Goldman Sachs revised down the Q4 GDP forecast to +1.4%. The Federal Reserve's Beige Book reported that economic activity slowed, with consumers pulling back on discretionary spending. The report also mentioned moderate price increases continuing into the next year and elevated prices. The Atlanta Fed's GDPNow model estimate for Q4 GDP growth declined to 1.8% from 2.1% on Nov 22. Overall, the Beige Book paints a dim economic picture, with slowing growth, labor demand easing, and inflation largely moderating. The US economy has been in an expansion for 41 months with annualized real GDP growth of 5% over that time, but signs of cooling demand and a shift into a lower gear are emerging.
After defying expectations all year and splurging over the summer, American consumers are starting to pull back. https://t.co/Z55dXCSD6x
After defying expectations all year and splurging over the summer, American consumers are starting to pull back. https://t.co/NczCNm7tUm
After defying expectations all year and splurging over the summer, American consumers are starting to pull back. https://t.co/eiXG1SN2Hd
'Beige Book' Reveals US Economic Slowdown, Experts Doubt Central Bank's Capacity to Intervene #Economics #Inflation https://t.co/ttBVodw9Gq
Consumers pull back on spending, inflation eases amid economic slowdown https://t.co/srXl58oVuo https://t.co/ei9xwAfz9g
US consumer spending, inflation and the labor market have all cooled in recent weeks, good news for the Federal Reserve and its goal of a soft landing. Here’s your Evening Briefing https://t.co/tpgmDGCSjZ
US consumer spending, inflation and the labor market have all cooled in recent weeks, good news for the Federal Reserve and its goal of a soft landing. Here’s your Evening Briefing https://t.co/bglDgbi5ia
US consumer spending, inflation and the labor market have all cooled in recent weeks, good news for the Federal Reserve and its goal of a soft landing. Here’s your Evening Briefing https://t.co/61txSCMZHw
“Consumer spending ⬆️ 0.2% in October, ⬇️ sharply from a 0.7% rise in September, the Commerce Department said Thursday. The combination of ebbing income growth, high interest rates & prices, dwindling pandemic savings & resumption of student-loan payments is eroding Americans’… https://t.co/HCoeVVdrCv https://t.co/0WpmuUSdUO
Fed's 'Beige Book' Paints Dim Economic Picture, Experts Warn Central Banks ‘Have No Ability to Save Anything’ #Economics #Inflation https://t.co/ttBVodw9Gq
The Atlanta Fed's GDPNow model estimate for Q4 GDP growth declined to 1.8% from 2.1% on Nov 22. https://t.co/5uYLgRPbY8
'Overall, the Beige Book's findings paint an economy that is losing momentum and "poised to slow sharply in 2024," said Capital Economics.' https://t.co/XGDF4r86eR https://t.co/dcBoi0ps6P
US consumer spending slows in October; weekly jobless claims rise slightly https://t.co/uiwEHc6anB https://t.co/ePVX1EKpXF
US consumers dialed back their spending in October from the prior month as inflation continued to cool, suggesting the economy is shifting into a lower gear https://t.co/iyExFZZDbV
⚠️ US CONSUMER SPENDING SLOWS IN OCTOBER; WEEKLY JOBLESS CLAIMS RISE SLIGHTLY U.S. consumer spending rose moderately in October, while the annual increase in inflation was the smallest since early 2021, signs of cooling demand that could further strengthen expectations that the… https://t.co/pYnaJpES9s
Consumers Pulled Back on Spending in October https://t.co/tfBZcUZSfO
US consumers dialed back their spending in October from the prior month as inflation continued to cool, suggesting the economy is shifting into a lower gear https://t.co/GJgxVNhzNG
Breaking: Americans slowed their spending in October and inflation cooled as the economy downshifted from a fast-paced summer https://t.co/61d37p4JPn https://t.co/61d37p4JPn
Shrugging off higher interest rates, America’s consumers spent enough to help drive the economy to a brisk 5.2% annual pace from July through September, the government reported Wednesday in an upgrade from its previous estimate. https://t.co/ymdywWwNgP
The US economy has now been in an expansion for 41 months with annualized real GDP growth of 5% over that time. https://t.co/txE9TOvwPN
Fed Beige Book Reveals Economic Slowdown Amid Rising Consumer Price Sensitivity https://t.co/a74BWg3wAA
US Real GDP increased 3% over the last year, the highest growth rate since Q1 2022. https://t.co/6G4RkVNPKz
The Fed's Beige Book shows that US economic activity slowed in recent weeks. Inflation meanwhile has “largely moderated” across the country, but why is it still high? Bloomberg's Daniel Neligh reports https://t.co/iZLt0Dz1F2 https://t.co/KPm6UrqLVx
The Fed's Beige Book shows that US economic activity slowed in recent weeks. Inflation meanwhile has “largely moderated” across the country, but why is it still high? Bloomberg's Daniel Neligh reports https://t.co/8YL9ob8Xgj https://t.co/HufNsKzH9w
US Fed finds signs of slowing economic activity https://t.co/cXFmvR9Jk0
US economic activity slowed in recent weeks as consumers pulled back on discretionary spending, the Federal Reserve said in its “Beige Book” survey of regional business contacts. https://t.co/tI1RUVjJpj
US economic activity slowed in recent weeks as consumers pulled back on discretionary spending, the Federal Reserve said in its “Beige Book” survey of regional business contacts. https://t.co/LG6LqKr00w
Downbeat Beige Book Finds Economic Activity "Slowing", Brings Fed One Step Closer To Rate Cuts https://t.co/B5reVplfxN
Nominal GDP grew at an annualized 9% rate last quarter! 🤯 https://t.co/4Lqx3Bn8n0
Beige Book mentions of inflation https://t.co/mg5O9wCnyZ
⚠️ US ECONOMY SLOWED IN RECENT WEEKS, FED SURVEY SHOWS U.S. economic activity slowed from late October through the middle of November, while businesses reported inflation largely moderating and easier hiring for jobs, the Federal Reserve said in a report on Wednesday,… https://t.co/gb0YE0t3M2
The US real GDP growth in Q3 of this year was revised up to an annual rate of 5.2%, the Commerce Department reported on Wednesday. https://t.co/ZUoOsGl51W
⚠️It's not flashing red, but it's not all green either -- it's truly a beige Book 🇺🇸Slowing economic activity: only 4/12 Districts reporting growth 1⃣ Demand is sluggish 2⃣ Labor demand is slowing 3⃣ Cost fatigue & price sensitivity 4⃣ Outlook reserved https://t.co/4gFoE4GDMq https://t.co/D42vz0qPnW
Fed’s Beige Book Shows Economic Slowdown as Consumers Pull Back https://t.co/YJav1R4XqT
Fed's Beige Book 📒 - Growth is slowing - Labor demand expected to continue easing - Some wage pressures persist, periodic reports of difficulty finding talent continue - Most districts expect moderate price increases to continue into next year - Prices remain elevated https://t.co/K5DeAK9gRG
Fed's Beige Book 📒 - Growth is slowing - Labor demand expected to continue easing - Some wage pressures persist, periodic reports of difficulty finding talent continue - Most districts expect moderate price increases to continue into next year - Prices remain elevated https://t.co/5yQJuLI1ST
🔴 FED'S BEIGE BOOK: MOST DISTRICTS EXPECT MODERATE PRICE INCREASES TO CONTINUE INTO NEXT YEAR.
🔴 FED'S BEIGE BOOK: DEMAND FOR LABOR CONTINUED TO EASE.
FED BEIGE BOOK: ON BALANCE, ECONOMIC ACTIVITY SLOWED SINCE THE PREVIOUS REPORT, WITH 4 DISTRICTS REPORTING MODEST GROWTH, 2 INDICATING CONDITIONS WERE FLAT TO SLIGHTLY DOWN, AND 6 NOTING SLIGHT DECLINES IN ACTIVITY FED BEIGE BOOK: THE ECONOMIC OUTLOOK FOR THE NEXT SIX TO TWELVE…
*FED'S BEIGE: ECONOMIC ACTIVITY SLOWED SINCE PREVIOUS REPORT Beigenomics
🔴 FED BEIGE BOOK: ON BALANCE, ECONOMIC ACTIVITY SLOWED SINCE THE PREVIOUS REPORT, WITH FOUR DISTRICTS REPORTING MODEST GROWTH, TWO INDICATING CONDITIONS WERE FLAT TO SLIGHTLY DOWN, AND SIX NOTING SLIGHT DECLINES IN ACTIVITY.
🔴 FED BEIGE BOOK: THE ECONOMIC OUTLOOK FOR THE NEXT SIX TO TWELVE MONTHS DIMINISHED OVER THE REPORTING PERIOD.
🔴 FED BEIGE BOOK: PRICE INCREASES LARGELY MODERATED ACROSS DISTRICTS, THOUGH PRICES REMAINED ELEVATED.
GOLDMAN SACHS: USA: Q3 GDP Revised Up to +5.2% but Details Weaker; Lowering Q4 GDP Forecast to +1.4%; Goods Trade Deficit Surprisingly Widens https://t.co/RxWs9y1oVG
U.S. consumers spent enough to help drive the economy to a brisk 5.2% annual pace from July through September, the government reported. https://t.co/Zk9RGcD3p2
Disinflation in US economy helps quell jitters in the stock market https://t.co/VYLrCAvQS0
🇺🇸 GDP each quarter since Q4 2019 https://t.co/1hygyNsSH6