The U.S. Department of Commerce raised its third-quarter GDP to 3.2%. Investors are worried that the Fed’s benchmark target interest rate may rise higher than expected and last longer.

(Reuters)

Strong consumer spending + hot employment, the US revised up the third quarter GDP, and the market worried that the Fed's target interest rate may rise even higher

Strong consumer spending coupled with a hot job market, the US Department of Commerce revised third quarter GDP to 3.2%.

(European News Agency)

[Compile Wei Guojin/Comprehensive Report] The "Personal Consumption Expenditure Index" (PCE), an accurate inflation indicator identified by Federal Reserve (Fed) Chairman Jerome Powell, increased by five in November.

5%, from October's 6.

The core PCE index, which excludes food and energy prices, dropped to four from an annual increase of five percent in October.

7%, showing that the US inflation continues to moderate, while personal spending increased ○.

One percent, an increase from October ○.

The 4 percent decline reflected a moderation in price pressures as well, but far from the level the Federal Reserve is seeking to pause rate hikes.

PCE grew 5.5% in November, the lowest since October last year

U.S. stocks continued to fall yesterday morning, the Dow fell more than 150 points, the S&P 500, and the Nasdaq fell 0.

Five percent, one percent.

Please read on...

The data released by the US Department of Commerce yesterday showed that the PCE increased by ○ in November.

One percent, rising in October ○.

4%; core PCE monthly increase ○.

2%, in line with expectations, and also a month-on-month increase of ○.

Three percent slip.

Clark, an economist at Citigroup, said demand for products had weakened, but remained strong across all service sectors.

The data also showed that the labor market remained tight, with the unemployment rate at just three.

seven%.

Consumer spending showed signs of cooling over the holiday season.

U.S. retail sales in November decreased by ○.

6%, the largest monthly drop this year.

The U.S. deposit rate rose to 2 in November.

4%, the first rise since July.

The U.S. economy rebounded in the third quarter and GDP grew in the first quarter of this year

In addition, the U.S. Department of Commerce pointed out on the 22nd that the third quarter gross domestic product (GDP) growth was seasonally adjusted, from the previous forecast of an annual increase of two.

Nine percent raised to three.

2%, not only a considerable increase, but also a change from the shrinkage in the previous two quarters, which is the growth in the first quarter of this year.

The Labor Department also announced on the same day that the number of people receiving unemployment benefits at the beginning of last week was revised to 21.

60,000 people, equivalent to the level before the epidemic.

Relevant data showed that the U.S. labor market remained historically tight, while still-resilient consumer spending allowed the U.S. economy to rebound faster than expected.

IG market analyst Sikamo said that this triggers the Fed may need to further tighten monetary policy next year to cool inflation.

Investors are particularly worried that the Fed's benchmark target interest rate may rise higher and last longer than expected, increasing the risk of economic contraction.

U.S. stocks fell sharply on Thursday. Technology stocks led the decline amid Micron’s weak financial forecast. The Nasdaq 100 Index fell by nearly two.

5%, Philadelphia Semiconductor's next kill four.

2%, the Dow Jones also fell more than 300 points, and then Asian stocks also continued to decline.

Not only good economic data makes the market fall, but also weak data will make investors worry about economic recession and sell stocks. The market is currently in an extremely unstable state.

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