New Data Points to Soft Landing.

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The new data from positive GDP and fewer jobless claims are both pointing to a Soft Landing with the aid of the upcoming expected Fed interest rate cut.
Real gross domestic product (GDP) increased annually by 3.0 percent in the second quarter of 2024. In the first quarter, real GDP increased 1.4 percent.
The real GDP increase primarily reflected consumer spending, private inventory investment, and nonresidential fixed investment. Imports, which are a subtraction in the calculation of GDP, increased
US initial jobless claims inch lower by 2,000 to 231,000 in the week ending on August 24 below the expectation of 234,000.
The four-week moving average of initial claims fell 5,000 to 232,000
U.S. central bank is expected to begin its easing cycle next month with a 25 basis points reduction with a chance of 50 basis points on the table. The Fed has maintained its policy rate for more than a year in the current 5.25%-5.50% range after raising it by 525 basis points in 2022 and 2023.

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