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<p class="has-drop-cap">The US economy <a aria-label="expanded at a revised pace of 4.9% (opens in a new tab)" href="https://www.reuters.com/markets/us/us-weekly-jobless-claims-increase-slightly-third-quarter-gdp-growth-trimmed-2023-12-21/" target="_blank" rel="noreferrer noopener nofollow" class="deco-link">expanded at a revised pace of 4.9%</a> in the third quarter, down from the earlier figure of 5.2%. Simultaneously, jobless claims rose by just 2,000 in the week ended Dec. 16, missing economists’ estimates.&nbsp;US stocks were green at market open and the yield of US treasuries continued to edge lower.</p> 
<h3 id="jobless-claims-growth-below-estimates">Jobless Claims Growth Below Estimates</h3> 
<p>According to the Bureau of Economic Analysis, gross domestic product (GDP), the total monetary value of all goods and services, grew at a <a href="https://www.cnbc.com/2023/11/29/us-gdp-grew-at-a-5point2percent-rate-in-the-third-quarter-even-stronger-than-first-indicated.html" target="_blank" aria-label="4.9% annualized pace in Q3 (opens in a new tab)" rel="noreferrer noopener nofollow" class="deco-link">4.9% annualized pace in Q3</a>, revised from the previous reading of 5.2%.</p> 
<p>But even after the revision, it was still the quickest pace of growth since Q4 2021 for the US economy. Economists projected the expansion pace would remain unchanged at 5.2%.&nbsp;</p> 
<p>After expanding by just 2.1% in Q2, the US economy embarked on a growth trajectory significantly sharper than Federal Reserve officials regard as the non-inflationary expansion rate of about 1.8%. However, its momentum seems to have waned in the year’s final quarter amid softer consumer spending.</p> 
<p>Meanwhile, the number of individuals who have filed for unemployment benefits with the government saw a marginal increase last week, pointing to noteworthy underlying strength in the economy as 2023 ends.&nbsp;&nbsp;</p> 
<p>This metric, also known as jobless claims, rose 2,000 to a <a href="https://www.dol.gov/ui/data.pdf" target="_blank" aria-label="seasonally adjusted 205,000 (opens in a new tab)" rel="noreferrer noopener nofollow" class="deco-link">seasonally adjusted 205,000</a> for the week that ended on December 16, the Labor Department reported on Thursday. That figure was lower than the consensus estimates of 215,000.&nbsp;</p> 
<p>Although these filings tend to be more volatile during the holiday season, they remain largely in line with a fairly strong labor market, which is expected to help the US economy avoid recession in 2024.&nbsp;</p> 
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<h3 id="stocks-bitcoin-rise-on-new-economic-data-bond-yields-in-the-red">Stocks, Bitcoin Rise on New Economic Data; Bond Yields in the Red</h3> 
<p>GDP and jobless claims data represent important economic indicators, and as such, they tend to trigger a reaction in the capital markets.&nbsp;</p> 
<p>US equities continued their <a href="https://tokenist.com/spx-spikes-1-4-as-fed-pivot-sparks-market-optimism/" rel="dofollow" class="deco-link">recent uptrend</a> at the market open, with the S&amp;P 500 climbing 0.8% to 4,736, offsetting some of the sharp losses it incurred a day earlier. At the same time, yields on US Treasuries edged lower, with the 10-year and 20-year slipping to 3.83% and 4.14%, respectively.&nbsp;</p> 
<p>Spot gold prices climbed 0.5% to $2,043, while Bitcoin (BTC) advanced 0.4% to $43,834 after briefly <a href="https://tokenist.com/bitcoins-price-was-16-8k-a-year-ago-how-high-can-it-go-in-december-2024/" rel="dofollow" class="deco-link">crossing the $44,000 mark</a>.&nbsp;</p> <iframe src="https://tokenist.substack.com/embed" width="100%" height="320" style="border:1px solid #EEE; background:white;" frameborder="0" scrolling="no"></iframe> 
<p><em><strong>What are your expectations concerning the US economy’s growth over the next four quarters? Let us know in the comments below.&nbsp;</strong></em></p> 
<p>The post <a rel="nofollow" href="https://tokenist.com/us-third-quarter-gdp-trimmed-to-4-9-jobless-claims-lower-than-expected/">US Third-Quarter GDP Trimmed to 4.9%, Jobless Claims Lower than Expected</a> appeared first on <a rel="nofollow" href="https://tokenist.com">Tokenist</a>.</p>

US Third-Quarter GDP Trimmed to 4.9%, Jobless Claims Lower than Expected

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