March 28, 2024
United States:
Key Gauges of US Economy Advanced at Healthy Clip to End 2023
The government’s two main measures of US economic activity posted strong advances at the end of last year, pointing to an economy that’s still expanding at a healthy clip.
Gross domestic product rose at an upwardly revised 3.4% annualized pace in the fourth quarter on the back of stronger household demand and business investment, according to the third estimate of the figures from the Bureau of Economic Analysis out Thursday.
United Kingdom:
BOE’s Haskel Warns Against Rushing to Cut Interest Rates
Bank of England rate setter Jonathan Haskel said interest-rate cuts should be “a long way off” in an interview with the Financial Times.
The external member of the Monetary Policy Committee said that he would favor both a later start and a slower pace of monetary easing. Currently, markets are pricing in almost three quarter-point reductions this year, starting in August.
Asia:
Bank of Korea Warns of Economic Hit if Property Slump Lasts
The Bank of Korea warned Thursday that a further slump in the real estate sector would undermine broader economic activity, as it pointed to worsening delinquencies among developers in the latest signal of continuing woes in the credit market.
The rising delinquency rate underscores more risks associated with project-finance projects, keeping alive concerns that they may spread to other developers, the South Korean central bank said in a regular report on the financial sector. The overall financial system appears stable in general, the BOK said.
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