U.S. Outlook: Economy is looking better in October

Scott Anderson
Posted by Scott Anderson
Chief Economist

Following the slowdown of August and September, the economic data points so far for October suggest the U.S. is picking up some growth momentum.

Graph showing the decline in weekly jobless claims over recent months.This could make a December rate hike from the Fed a more likely scenario than the market is currently pricing in.

For more on this and other economic developments this week, see my full report. Highlights are outlined below, followed by a link to the full U.S. Outlook report, delivered on Oct 23.

Key observations:
  • The U.S. consumer appears to be shaking off economic concerns from abroad.
  • So far the slowdown in job creation seen in the payroll report is not even visible in the initial jobless claims data.
  • Housing and homebuilder data exceed expectations.
  • Putting it all together, the fourth quarter is off to a good start.
Click here to read my full report.

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