The 0.3% m/m rebound in real GDP in November (consensus and CE forecast 0.1% m/m) suggests the economy is heading into 2026 with a bit more momentum than we thought. But with the economy still contending with the lingering drags from high interest rates, high taxes and weak overseas demand, we doubt this pace of growth will be sustained and we remain comfortable with our below-consensus 2026 GDP growth forecast of 1.0%.
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