How America's economy keeps defying expectations

Structural demographics (keeping consumers purchasing) and loose credit (financing the wage spending gap).

well yes, but also credit/debt ... https://www.federalreserve.gov/releases/g19/current/ ... how does this compare to - let's say eurozone numbers?

https://tradingeconomics.com/euro-area/consumer-credit

compare the following graphs EU: https://i.imgur.com/5DJyDuG.png , USA https://www.reuters.com/graphics/USA-FED/DEBT/jnpwwyzmqpw/ch...

"The increase in the fourth quarter primarily reflected increases in consumer spending and exports. Imports, which are a subtraction in the calculation of GDP, increased." and "The increase in consumer spending reflected increases in both services and goods. Within services, the leading contributors were food services and accommodations as well as health care."

https://www.bea.gov/news/2024/gross-domestic-product-fourth-...

so yeah, it's cool some number went up, but also food and healthcare costs more. and export can be good old oil stuff and pew-pew products. so all in all the mystery is that there's probably no mystery.

The interest rate is still doing it's job. Slowly but surely. The chances of rate cuts are even less now.