Q3 GDP came in hotter than expected at +3.4% versus the +3.2% estimate. Consumer spending held firm at +3.8%, matching the prior quarter.
The story here isn't the decimal points. It's that the American consumer keeps showing up. Not because they're reckless. Not because they're euphoric. But because employment is holding, wages are rising, and people still need to live their lives.
Markets love to panic about recessions that never arrive. Meanwhile, the economy just grinds forward. Boring, steady, resilient.
This is what expansions look like when they refuse to die quietly.
The story here isn't the decimal points. It's that the American consumer keeps showing up. Not because they're reckless. Not because they're euphoric. But because employment is holding, wages are rising, and people still need to live their lives.
Markets love to panic about recessions that never arrive. Meanwhile, the economy just grinds forward. Boring, steady, resilient.
This is what expansions look like when they refuse to die quietly.
