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.
I was 'brokefished' by my friend for £400
South Africa elections 2024: What you need to know
UN report gives cautiously optimistic near
New York police arrest 300 pro
Ricky Stenhouse punching Kyle Busch could lead to suspension
Hong Kong to hold historical French fashion exhibition
Soulful singer Michael McDonald looks back in his new memoir, 'What a Fool Believes'
Storms damage homes in Oklahoma and Kansas. But in Houston, most power is restored
The one American city that's almost beaten the war on inflation
Red Lobster seeks bankruptcy protection after closing some restaurants
Jury finds Honolulu's former top prosecutor and 5 others not guilty in a federal bribery case