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2026-11-04 22:58:28
[Economist: Strong US Q4 Start, GDP Annualized Growth Likely to Exceed 4%] Chris Williamson, Chief Business Economist at S&P Global Markets Intelligence, stated, “The October PMI survey indicates a strong start to the US economy in the fourth quarter, with annualized GDP growth likely exceeding 4%. The technology sector remains a major bright spot for economic growth, but encouragingly, consumer-facing industries and financial services also performed robustly. However, the positive economic growth was offset by worrying renewed inflationary pressures and weak performance from some forward-looking survey indicators. While output remains strong, the pace of expansion has slowed from recent highs, related to slower growth in new orders and declining business confidence in the economic outlook. In October, optimism about the future among large service sector businesses declined sharply, reflecting concerns about consumer affordability, interest rates, and political uncertainty. Meanwhile, average sales prices in the service sector rose at one of the fastest pace in the past four years. Combined with the sharp rise in commodity prices shown in the October manufacturing PMI survey, the overall signal suggests that inflation may rise further above the Fed's target level in the coming months.”
