U.S. Outlook
20-Year Outlook By CBoC Economics Team • Updated July 29, 2024
Proceed with Caution
After finishing 2023 with the pedal to the metal, the U.S. economy entered 2024 with the foot off the accelerator. Real GDP increased by 1.3 per cent in the first quarter of this year, a significant drop from 3.2 per cent the previous quarter and the first quarter below 2 per cent growth since mid-2022. The economy will pick up slightly over the rest of the year, but growth will remain lukewarm.
July 29, 2024 • 12-min read
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Resilience Over Recession
May 6, 2024
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.
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