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This week’ CQM and PCA produce their final forecasts for Advance GDP in 2024Q3. CQM and PCA have not updated September construction spending, business inventories and international trade which are the potential uncertainties for the forecasts. The economy in 2024Q3 seems to be quite strong. A better measure of economic growth similar concept of GDO is forecasted to be 2.7% in 2024Q3 while PCA forecasts it to be 2.39% a bit lower than CQM. Like GDP, real aggregated indexes illustrate a strong economy in 2024Q3. In particular, real total demand (= GDP + imports) is forecasted to have grown at 3.4% in 2024Q3. Regarding inflation in 2024Q3, all inflation indicators are projected to have fallen below 2% growth.
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