As the U.S. economy gives mixed signals, investors are flocking towards reliable choices such as dividend-paying stocks for stability and growth in their portfolios. Below, I have highlighted three such dividend growth stocks: The PNC Financial Services Group, Inc. (PNC), VICI Properties Inc. (VICI), and T. Rowe Price Group, Inc. (TROW), which could offer a reliable income stream to your portfolios.
The U.S. economy is expected to continue to lose momentum in the near future as high prices and elevated interest rates sap domestic demand. In the first quarter of 2024, real GDP growth slowed sharply to 1.4% annually, a significant drop from the 3.4% seen in the previous quarter. It's likely that growth in the second quarter wasn't much faster. While a recession isn't predicted for 2024, the board expects consumer spending to cool further, leading to around 1% growth in Q3.
