US economic growth for last quarter is revised up slightly to a healthy 3.4% annual rate
- The US economy grew at a revised 3.4% annualised rate last quarter, surpassing global peers despite 525 basis points of interest rate hikes.
- GDP and GDI estimates varied due to different data sources, with GDI reflecting increased wages driving consumer spending.
- Despite high-profile layoffs, most employers are retaining workers, with initial unemployment claims falling and growth estimates converging around a 2.0% pace.
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Leaning Left12Leaning Right8Center17Last Updated1 month agoBias Distribution46% Center