Economic Reflections of 2023 and Predictions for 2024 |Russell Price, Chief Economist , Ameriprise Financial Inc. 00:10:00
As we look back on 2023, the U.S. economy demonstrated strong growth, with a 3.1% increase in GDP and a resilient job market. Inflation declined significantly, dropping from 6.5% to 3.2% by October. Looking ahead to 2024, economic growth is expected to slow to 1.5%, but a recession remains unlikely. Consumer spending may decelerate, yet overall financial health looks positive with stable job prospects and low debt levels.
