This series will explore our monthly State of the Economy report, which provides a snapshot of the top monthly economic and credit data for financial service professionals to proactively shape their business strategies.
The U.S. economy remains on solid footing, as GDP grew at a healthy 2.8% rate in Q3, driven by consumer spending. Alongside growth, inflation ticked up, while the labor market eased across several measures. In response to these developments, the Federal Reserve announced a quarter-point cut in November, with another cut penciled in for December. The November State of the Economy report fills in the rest of the macroeconomic story.
This month’s highlights include:
- Annual headline inflation ticked up from 2.4% to 2.6%.
- 12,000 jobs were added in October, amid hurricane and strike impacts.
- Retail sales increased by 0.4% in October.
Check out the full report for a detailed analysis of the rest of this month’s data, including the latest trends in originations, job openings, and growth.
As our economy continues to fluctuate, it’s critical to stay updated on the latest developments. Subscribe to our new series, The Macro Moment, for economic commentary from Experian NA’s Chief Economist, Joseph Mayans, with additional economic resources, including our new Election Eve’s Scenario Forecasts report.
For more economic trends and market insights, visit Experian Edge.
