Gross Domestic Product, Third Quarter 2021 (Advance Estimate) Auto Parts

 Keeping up with changes in the market is important for understanding the business climate we work within. Changes in growth, adjustments in labor market, government policy, etc... all contribute to making business decisions. You don't have to remember every detail but just enough to keep track of the bigger movements and trends. These will be what you bas your decisions on. 

A couple of highlights

-Real GDP increased 2% (This is lower than expected.)

-Of that increase it was from private inventory investment, personal consumption expenditures, state and local government spending, and non residential fixed investment. 

-Those gains were offset by decreases in residential fixed income, federal government spending, and exports. 

-Imports increased (We would like to reverse much of that the other way and increase exports. We are still importing lots of goods and services.)

When you look through the charts you gain a better understanding what is doing well and what is not doing well (i.e. If your in Michigan you might to look at auto part industries.) 

Modified from BEA

You may also notice that Exports and Imports are almost reverse of what is actually needed to be successful. Unless imports are raw materials we are using to create greater value then our strategy of "consume more and make less" isn't working well as a growth strategy. We might explore some other options.

Modified from BEA

Bea Gdp Oct. 28th, 2021 by Dr. Murad Abel on Scribd