Economic gauge
The Commerce Department releases its initial estimate of first-quarter economic growth on Thursday.
Economists expect growth slowed to just 2% in the first quarter of 2024, down from 3.4% in the final quarter of 2023 and 4.9% in the third quarter. Consumers are still spending, which is a key driver for economic growth, but they’re facing persistent pressure from high borrowing rates and inflation.
GDP, seasonally adjusted annual rate, by quarter:
Q1 2023: 2.2%
Q3 2023: 4.9%
Q1 2024 (est.): 2.0
Source: FactSet.
Tracking unemployment
The Labor Department releases its weekly tally of unemployment benefit applications on Thursday.
The proxy for layoffs held steady last week at 212,000 jobless claims. They have mostly remained in a narrow range since February. The resilient labor market has helped bolster consumer spending, while giving the Federal Reserve more reason to maintain high interest rates to tame inflation.
The government wants to buy their flood
Kowalczyk's first career goal sends Dynamo past Minnesota United 2
Hunter Biden indicted on multiple counts related to firearms, tax evasion
Palestinian death toll in Gaza rises to 20,915: ministry
Why US Catholics are planning pilgrimages in communities across the nation
China unveils new measures to streamline foreign exchange business processes
Ethiopia says ready to play constructive role as new BRICS member
Model and influencer Nara Smith welcomes baby number three with husband Lucky Blue Smith
Socialite Jasmine Hartin enjoys beach snuggle with electrician hunk
Indian gov't decides to extend food security scheme for 5 years
Kosovo prepares a new draft law on renting prison cells to Denmark after the first proposal failed
Chinese companies break ground on Serbia's expressway