This month’s official report of US fourth-quarter economic activity, scheduled for release on Jan. 25, will likely confirm that output expanded at a moderate pace, according to a set of nowcasts compiled by CapitalSpectator.com.

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* Americans set a new online holiday shopping record in 2023
* Global economy posts modest growth in December: PMI survey data
* US Composite PMI, a GDP proxy, indicates modest expansion in December
* Eurozone headline inflation rebounds in December
* US jobless claims fell last week, sticking close to a multi-decade low
* US private payrolls rose more than expected in December via ADP estimate:

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