U.S. Outlook

Resilience Over Recession

The U.S. economy surprised with stunning growth in 2023. In a year when many predicted a recession, the economy not only survived but thrived. The year ended with impressive growth of 3.2 per cent annualized in the fourth quarter, but this rate is unsustainable, and growth will lose momentum.

May 6, 2024  •  14-min read

Previous Release

Soft Landing in Sight

February 27, 2024

The strength of the U.S. economy has become less and less surprising, but no one was prepared for the stunning growth in the third quarter of 2023. GDP growth in the U.S. exceeded expectations and increased by a whopping 5.2 per cent (seasonally adjusted at annual rates)—up from a 2.1 per cent gain in the second quarter, driven mainly by a jump in consumer spending.

Impact paper  •  12-min read


Principal Economist

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