At an annualized 2.3%. Growth was slowing. Early projections indicate Q1 2025 will also show growth.
We still don’t have the promised tariffs in place. So are the tariffs going to happen? It’s the waffling that is creating chaos in the financial markets. As Corrado Soprano used to say, “ if you’re gonna do something, do something!” So far nothing but threats but no action. The worst thing you can ever hear is the word MAYBE.
The growth update comes on the heels of greater concerns that President Trump's tariff plans will hurt the US economy and lead to slower growth and higher inflation over time.
According to data released earlier this week, consumer confidence plummeted in February, notching its biggest monthly decline in nearly four years as 12-month inflation expectations jumped and recession fears escalated.
Separately, data from the US Labor Department released Thursday showed 242,000 unemployment claims were filed in the week ending Feb. 22, ahead of Wall Street's expectations for 221,000 and an increase of 22,000 from the previous week's revised level. This marked the highest level of filed claims since December.