The deceleration from Q2’s 3.0% growth is attributed to reduced private inventory investment and a continued slump in residential fixed investment. On the price front, the gross domestic purchases index rose 1.9%, while the core PCE price index climbed 2.1%, slightly lower than the prior estimate. Corporate profits dropped $10.2 billion in Q3, reversing a $132.5 billion surge in Q2, with notable declines in financial and international earnings.
Are Initial Jobless Claims Signaling Labor Market Changes?
Initial jobless claims fell by 2,000 to a seasonally adjusted 213,000 for the week ending November 23, continuing to signal labor market resilience. However, the four-week moving average edged lower by just 1,250 to 217,000, while insured unemployment hit its highest level since 2021 at 1.91 million. The steady increase…
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