U.S. Q3 GDP Holds Steady at 2.8%, Core PCE Revised to 2.1%, Jobless Claims Beat Expectations

According to Bureau of Economic Analysis: The U.S. Bureau of Economic Analysis (BEA) has released its revised figures for the third quarter of 2024, indicating that the annualized real Gross Domestic Product (GDP) growth rate remains at 2.8%, consistent with both prior estimates and market expectations.In addition, the annualized quarterly rate of the core Personal Consumption Expenditures (PCE) price index for Q3 has been adjusted to 2.1%, slightly below the anticipated 2.2% and the previous estimate of 2.2%.Furthermore, the U.S. Department of Labor reports that initial jobless claims for the week ending November 23 totalled 213,000, marginally lower than the forecasted 216,000.These figures suggest a steady economic growth trajectory with moderate inflation pressures, alongside a labor market that continues to exhibit resilience.