US Q4 actual GDP slashed in a "halving" revision! Core PCE in January hits nearly two-year high

BlockBeats News, on March 13, the United States' actual GDP growth rate for the fourth quarter was significantly revised down to 0.7%, compared to the initial value of 1.4%, which is noticeably lower than the market expectation of 1.5%, indicating a clear slowdown in economic momentum. After the data release, the market still expects that the Federal Reserve may cut interest rates as early as before September, but given persistent inflation and rising oil prices due to the situation in the Middle East, the outlook for rate cuts remains uncertain.

Meanwhile, the US PCE price index for January rose 0.3% month-on-month and increased to 2.8% year-on-year; excluding food and energy, the core PCE rose 0.4% month-on-month and climbed to 3.1% year-on-year, reaching a nearly two-year high. The core PCE has recorded a 0.4% month-on-month increase for two consecutive months, indicating that inflation remains sticky.