The American economy proved to be relatively dynamic in 2023, despite the monetary tightening imposed by the Federal Reserve since the start of 2022. Thus GDP increased by 1.3% in Q3 2023, after +0.5% in Q2 and +0.6% in Q1. Most of the items that make up domestic demand (consumption and investment, both public and private) have shown a degree of resistance. The rebound in household consumption in Q3 was mainly the result of a strong contribution by the consumption of household durables and services, especially rents. At the same time, the household savings ratio declined, from 5.1% in Q2 to 4.0% in Q3. The momentum of the labour market was able to support these trends...