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Strong Momentum! U.S. GDP Update Reveals Encouraging Trends for First Quarter 2024

The week saw the release of revised U.S. Gross Domestic Product (GDP) data which came in at 3.2%, down 0.1% from a month ago. However, the personal consumption component was revised up while inventories were marked down, suggesting that the economy maintains solid momentum. In line with this we highlight that the Federal Reserve Bank of Atlanta's GDPNow indicators project that the economy will grow by 3.25% in the first quarter of 2024.



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