WS #16516
The US economy grew at an annualized rate of 3.4% in Q3, beating expectations and showing resilient consumer spending despite high rates. Concurrently, the ECB held rates steady at 2.5%, citing tightening financing conditions but acknowledging inflation progress. This combination of strong growth and stable policy has reduced the probability of a hard landing, though it has not been enough to offset the heavy selling pressure from the tech sector and industrial cyclicals.
US GDP Beat & ECB Hold
The US economy grew at an annualized rate of 3.4% in Q3, beating expectations and showing resilient consumer spending despite high rates. Concurrently, the ECB held rates steady at 2.5%, citing tightening financing conditions but acknowledging inflation progress. This combination of strong growth and stable policy has reduced the probability of a hard landing, though it has not been enough to offset the heavy selling pressure from the tech sector and industrial cyclicals.