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LAST UPDATE:3/1/2024
CQM 20240301 CQM 20240301

Economic growth on both the expenditure and income sides was significantly revised upward mainly due to the strong service sector. PCE on services increased 0.95% in January while it had been forecasted to be a 0.05% increase in the previous CQM. Wage and salary disbursement increased 0.40% in January, though it had been forecasted to be -0.48% in the previous CQM. Strong performance in the service sector may avert the risk of a recession in 2024Q1. As seen graph 2, inflation is gradually rising.

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