Reported about 1 month ago
The US Bureau of Economic Analysis has revised the second quarter GDP growth for 2024 from 2.8% to 3%. This upward adjustment may bolster the Federal Reserve, although concerns linger about potential economic headwinds, especially regarding the labor market. Citi's Robert Sockin notes that while consumer spending remains strong, the risks appear skewed to the downside, indicating a possible 'soft landing' scenario for the economy.
Source: YAHOO