US Economy Maintains Strong Momentum in Q4 2024, Outperforming Global Counterparts
Key Points:
* US 4Q 2024 GDP projected to grow at an annualized rate of 2.7%, following consecutive quarters of 3% growth.
* Consumer spending remains robust, fueled by a strong labor market.
* In contrast, French and German economies are expected to stagnate or slightly contract.
* Eurozone GDP growth remains tepid, extending a multi-year trend.
* Bank of Canada expected to cut interest rates by 25 basis points.
* Japan raises interest rates to the highest in 17 years, with a series of data releases expected throughout the week.
* European Central Bank predicted to cut rates by 25 basis points, citing economic concerns and inflation risks.
* UK Chancellor Rachel Reeves to deliver a major speech on growth.
* Several African countries adjust inflation data and GDP numbers.
* Brazil's central bank expected to hike rates by 100 basis points.
* Chile's central bank may hold rates steady despite rising inflation pressures.
* Colombia's central bank likely to cut rates, while Mexico releases key economic indicators.
Summary:
The US economy is cruising at a comfortable pace, driven by consumer spending and favorable labor market conditions. Its performance contrasts sharply with the sluggishness witnessed in advanced economies around the world, including France, Germany, and the Eurozone. The Federal Reserve is expected to maintain steady interest rates, while the Bank of Canada is poised to cut rates. Data releases from across the globe will provide insights into economic trends, with particular attention to Japan, the Eurozone, and emerging markets.