Monthly Review
January 2024 – Bond Market Review
Recent economic data continues to suggest positive but below trend growth this year. Labor markets remain solid, and the U.S. consumer has demonstrated resiliency.
January 31, 2024
Recent economic data continues to suggest positive but below trend growth this year. Labor markets remain solid, and the U.S. consumer has demonstrated resiliency.
The US economy grew at a surprisingly strong rate of 3.3% in the fourth quarter of 2023, according to the advanced estimate for GDP. The consensus estimate for fourth quarter GDP was significantly lower at 2.0%. The data continues to illustrate the strength of the consumer as personal consumption came in slightly above estimates at 2.8.
Conference Board Leading Economic Indicators, S&P Global US Manufacturing and Services Purchasing Managers Indexes (PMI), Chicago Fed National Activity Index, Gross Domestic Product, Durable Goods Orders, New Home Sales, Personal Consumption Expenditures, Pending Home Sales.
