CQM forecasts economic growth in 2023Q4 to be 1.07% on the expenditure side and -0.34% on the income side. The average economic growth rate of both sides is 0.37%. PCA forecast revised economic growth from 0.14% to 0.0% in 2023Q4. It seems that latent true economic growth rate in 2023Q4 is 0.0% ~ 0.5%. We should be cautiously pessimistic about the economy in 2023Q4. Good news is that inflation has started to slow down below 3% in 2023Q4.