Bonasababy
Well-known member
- Joined
- May 16, 2024
- Messages
- 451
And mortgage rates are starting to drop as well.From Fidelity.
How is the us economy doing | Fidelity
Gloomy economic sentiment doesn't match the data. What's happening with the economy?www.fidelity.com
"While the criteria for determining when a recession occurs is complex, there is no indication that one has arrived. The gross domestic product of the US has actually grown over the last 2 quarters: by 3.3% in Q4 2023 and 1.6% in Q1 2024.
"Stocks are doing well. The S&P 500® Index rose by 24% in 2023 and has continued on its upward trajectory in 2024, rising more than 10% in Q1 2024.
"Though still elevated from its pre-pandemic levels, the rate of inflation most recently dropped to 3.4% in April, down significantly from its peak of 9.1% in June 2022.2 Furthermore, wages have generally been rising faster than inflation since February 2023, which in theory should lessen the impact of rising costs on consumers.
"The unemployment rate is actually near a 50-year low. In May 2024, it rose slightly to 4%, which is well below the average reading of 5.7% since 1950."