Shenchao TechFlow News, on October 31, according to Jinshi Data, the China International Capital Corporation's research report states that the annualized quarterly growth rate of the U.S. real GDP for the third quarter of 2024 is 2.8%, slightly lower than the market expectation of 3.0%, and also a slight decline from the 3.0% in the second quarter, but it still represents a remarkable performance.

Looking at the components, personal consumption expenditure is strong, corporate equipment investment is expanding, and exports and government spending are accelerating, indicating that U.S. economic growth remains healthy. Relatively weak are real estate investment and construction investment, showing that high interest rates are still having a suppressive effect.

In addition, inflation further declined in the third quarter, suggesting that the U.S. economy is moving towards a soft landing. CICC believes that the Federal Reserve does not need to make significant interest rate cuts for now, expecting a 25 basis point rate cut next week, with the decision to skip a rate cut in December depending on inflation progress.