US macro and metro outlook: slow growth ahead
Date: Monday 13 November 2023
The US economy is heading into Q4 with plenty of momentum. However, this strength will wane next year, as robust consumer spending has been fueled by an unsustainable decline in savings. In addition, the tightening of financial conditions from higher bond yields and more restrictive fiscal policy will constrain growth in 2024. We see the economy slowing down to well below its potential growth rate next year but averting an outright recession. Tune in to this webinar to learn more about the economy’s prospects, along with a focus on metro-level job growth and demographic shifts.

Barbara Byrne Denham
Senior Economist, Cities & Regions
+1 (646) 503 3061

Barbara Byrne Denham
Senior Economist, Cities & Regions
New York, United States
As a senior economist at Oxford Economics, Barbara brings a seasoned approach to the study of US cities. She works in Oxford Economics’ division of Cities and Regions analysis where she leads in writing reports on US metros. Prior to joining Oxford Economics, she worked six years for Moody’s Analytics REIS where she did similar work and wrote a number of white papers covering metro-level analyses including the Impact of the Tax and Jobs Act on Commercial Real Estate; Amazon HQ2, a Scoring Analysis; and the Economics of College Towns. Barbara’s work is frequently cited by the Wall Street Journal, New York Times, Crains New York Business and numerous other publications.
Prior to working at Moody’s, Barbara worked more than 20 years at various commercial real estate firms including Jones Lang LaSalle and Eastern Consolidated where she focused on writing market reports and white papers.
Barbara holds a bachelor’s in business administration from the University of Notre Dame and is a Ph. D. candidate in Economics from New York University.

Bernard Yaros
Lead US Economist
+1 (646) 786 1879

Bernard Yaros
Lead US Economist
New York, United States
Bernard is a Lead US Economist at Oxford Economics. He was previously an Assistant Director at Moody’s Analytics, where he analyzed the U.S. economy, focusing on federal fiscal policy. His work on the federal government has been widely cited by the media, members of Congress, and even the White House.
Bernard holds a Master’s degree in Economics from the Barcelona School of Economics and a B.A. in Political Economy from Williams College.
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