This week’s modest upward revision to third-quarter GDP growth was certainly eye-catching. It suggests that the US economy is not just surviving the surge in interest rates over the last couple of years, but is positively thriving. But the rest of the incoming data points to a sharp slowdown in the fourth quarter and, besides, regardless of the strength of demand the normalisation of supply in goods and labour markets mean that core inflation is nevertheless returning to target.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services