Data shows US economy pacing for 'healthy' growth — but new 'headwinds' loom

Published On Sep 23, 2024, 10:55 AM

Recent data indicates the U.S. economy is on track for solid growth in Q3, with a projected annualized GDP growth rate of about 2.2%. The S&P Global's composite PMI for September showed a slight decrease but remains above the 50 mark, indicating continued expansion. However, concerns arise from a weakening manufacturing sector and rising inflation pressures, which could pose challenges ahead as businesses face uncertainty related to the upcoming presidential election. Overall, while growth seems healthy, headwinds such as these could affect investor sentiment and market stability in the near future.

Stock Forecasts

The economic growth indications and retail sales numbers suggest potential for stocks linked to consumer spending. However, the looming manufacturing slowdown and inflation pressures could hinder tech stocks and other sectors significantly dependent on consumer confidence and spending.

Related News

Capitalist Pig hedge fund manager Jonathan Hoenig weighs in on market rallies, his concern for everyday Americans amid inflation, and his stock pick.

JPMorgan Chase & Co. chief Jamie Dimon on Friday sounded the alarm about "critical risks" to the U.S. economy in the bank's third quarter earnings report.

Slatestone Wealth Chief Market Strategist Kenny Polcari discusses the market rallying following the inflation report, Jamie Dimon's warning of geopolitical risks, and how he fared during Hurricane Milton.

SPY
TLT