At present the U.S. economy looks strong and is growing. That is a good thing. Some mixed data but it appears that GDP is rising, inflation cooling, unemployment relatively stable and growth projections up beyond other advanced nations. What would be interesting is if we fixed some of our human capital problems and take on the rates of emerging markets through higher skill, infrastructure and new technology.
(For the most part I just want to know what happens throughout the rest of the year because I made some projections a few years ago based on an unfinished economic transactional cluster theory that seemed to have panned out. Likely dumb luck, but still interesting to watch.)
Commerce DepartmentYou can read BEA Gross Domestic Product October 26, 2023 Statement
- GDP rose 4.9% in Q3 2023
- GDP rose 2.1% in Q2 2023
- GDP was influenced by increases in consumer spending, private inventory investment, exports, state and local government spending, federal government spending, and residential fixed investment.
U.S. Department of Labor
- Seasonally adjusted job claims up to 210,000
U.S. Treasury Department
The following was quoted from the Treasury Department October 26th, 2023 Press Release
- The United States has seen a particularly strong GDP recovery and is on track to return to pre-pandemic trend growth this year.
- Global labor markets continue to strengthen, and the United States has been especially resilient.
- U.S. inflation has cooled sooner and more quickly than in other advanced economies.
International Monetary Fund
The IMF made some world outlook projections. IMF October 23
- U.S. 2023 growth rate is projected to be 2.1
- Advanced economies projection rate are 1.5
- Emerging markets are 4
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