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Weekly Economic Highlights November 2023

Longer-term interest rates moved lower, and the equity market turned positive on a week-over-week basis as recent economic data releases exhibited the impact of the well documented tighter financial conditions.

The US economy grew well above trend in Q3 2023, with a 4.9% increase in Gross Domestic Product (GDP), marking the fastest growth in nearly two years. The primary factor driving this growth was a 4% rise in consumer spending as a healthy US job market continues to support strong household spending.