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29th Aug 2024 09:24USDaily Monitor

  • The small recent rise in continuing claims suggests July’s unemployment rate was overestimated.
  • We are pencilling in a 0.1pp dip in the rate to 4.2% in August, despite the worsening trend.
  • The rapid 2.9% growth in consumers’ spending in Q2 looks unsustainable; expect a sharp slowdown.

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Keywords for: 30 August 2024 US Monitor

independent macro research, Pantheon Macro, Pantheon Macroeconomics, independent research, ian shepherdson, economic intelligence