The US Bureau of Economic Analysis has revised its already strong GDP estimates for the third quarter upwards, raising them from 4.9% to 5.2%.
The previous GDP data, which were released last month, had already surprised analysts, coming in above expectations of 4.3%. US GDP beats expectations at 4.9% in Q3 Following the upwards revision today (29 November), market odds for a Federal Reserve rate cut as soon as its March meeting spiked, rising from 34.6% yesterday to 44.5%, according to data from CME Group's FedWatch tool. Odds for a rate cut by May also increased further, and now sit at 77.1%, compared to 65.2% yesterday. Lindsay James, investment strategist at Quilter Investors, said the revised figures showed "an eco...
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