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.
French sports minister calls for sanctions after Monaco player tapes over anti
Palestinian death toll rises to 22,438 in Gaza: ministry
Hunter Biden indicted on multiple counts related to firearms, tax evasion
Independent UN experts urge Yemen’s Houthis to free detained Baha'i followers
U.S. California's homelessness keeps rising: report
Int'l ministerial meeting calls for peace in Gaza
Turkish parliamentary committee okays Sweden's NATO bid
Devout Christian doctor, 68, who punched dementia
Ethiopia says ready to play constructive role as new BRICS member