How Is The Us Economy Doing Right Now 2024. Gross domestic product, the broadest measure of economic output, did slow last quarter to a 3.3% annualized. Forecasters expect the economy to grow 1.3% this year, down from a projected 2.4% in 2023 but above their 0.7% estimate in july,.
The economy has been surprisingly resilient despite high interest rates and inflation the past two years as a result of strong job and wage. Part of the economy’s stamina reflects labor market resilience, marked by low layoffs and strong wage gains, which are underpinning consumer spending.
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