March 2024 State Coincident Indexes Ease
The Big Picture
APRIL 25, 2024
A quick note on the state of the economy in light of some recent data. Q1 2024 Gross Domestic Product expanded at a disappointing 1.6% — note this is seasonally and inflation-adjusted annual rate. That lagged economists’ consensus of 2.4%. However, it’s not quite all it appears. Some of this is that “long and variable lag” of higher rates starting to bite — but it’s not just that.
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