November notebook: Solar noise + cereal toys
Daryl Smith, CFA, Head of Research (London)
![Post feature](/rails/active_storage/representations/proxy/eyJfcmFpbHMiOnsibWVzc2FnZSI6IkJBaHBBdWhJIiwiZXhwIjpudWxsLCJwdXIiOiJibG9iX2lkIn19--36e6292ccfc7a6e2a05f478c36de54fae935e5b8/eyJfcmFpbHMiOnsibWVzc2FnZSI6IkJBaDdCem9MWm05eWJXRjBTU0lJY0c1bkJqb0dSVlE2QzNKbGMybDZaVWtpRFRFeU9EQjRPRFV6QmpzR1ZBPT0iLCJleHAiOm51bGwsInB1ciI6InZhcmlhdGlvbiJ9fQ==--4a0ea5eeb6f0e6d47bff3b653fd69e214040023f/Notebook-picture-Jan-23.jpg)
A year ago, many financial news outlets predicted the US to have entered a recession by now. And yet here we are, with the US economy delivering a blockbuster 3Q GDP performance of 4.9%.
As it turns out, the US consumer is spending more than many thought.
My thoughts (somewhat predictably) go straight to ‘fine…but what data saw this coming?’