According to the Cathay Pacific Express Research Report, the US economic data for the third quarter of 2025 exceeded expectations, mainly due to resilience in personal consumption, increased public spending, and increased export contributions. However, it shows the characteristics of triple “K” differentiation, namely the differentiation of personal income and consumption, the stratification of the prosperity of large and small enterprises, and the differentiation between the old and new economies. It is expected that after the short-term impact on the US economy in the fourth quarter, overall resilience will remain strong. The cycle of preventive interest rate cuts will continue, maintaining the view that interest rates will be cut 2-3 times in 2026.

According to the Cathay Pacific Express Research Report, the US economic data for the third quarter of 2025 exceeded expectations, mainly due to resilience in personal consumption, increased public spending, and increased export contributions. However, it shows the characteristics of triple “K” differentiation, namely the differentiation of personal income and consumption, the stratification of the prosperity of large and small enterprises, and the differentiation between the old and new economies. It is expected that after the short-term impact on the US economy in the fourth quarter, overall resilience will remain strong. The cycle of preventive interest rate cuts will continue, maintaining the view that interest rates will be cut 2-3 times in 2026.