Sign in Subscribe
๐Ÿ“ˆ Macroeconomics

U.S. Economy in a Snapshot Overview of the July 2023 Snapshot: Q1 GDP Growth Slows but Remains Solid, Driven by Consumption, Government Spending, and Net Exports; June Sees Solid Payroll Growth and Slight Drop in Unemployment;

Food-at-Home Index 25% Above its 2019 Average.

r/Superstonk - U.S. Economy in a Snapshot Overview of the July 2023 Snapshot: Q1 GDP Growth Slows but Remains Solid, Driven by Consumption, Government Spending, and Net Exports; June Sees Solid Payroll Growth and Slight Drop in Unemployment; Food-at-Home Index 25% Above its 2019 Average.

https://www.newyorkfed.org/medialibrary/media/research/snapshot/Snapshot_July2023.pdf

Overview of the July 2023 Snapshot

  • GDP growth slowed: Q1 GDP was about .5% below what it would been if since Q42019, it grew at a rate close to long-term forecasts.
  • Consumer real spending on services up 2.6%---still greater then 2%...
  • Average hourly earnings up 4.4% in June**.** The employment-to-population ratio for prime-aged workers was above its pre-pandemic level.
  • Inflation: food-at-home index 25% above its 2019 average
r/Superstonk - U.S. Economy in a Snapshot Overview of the July 2023 Snapshot: Q1 GDP Growth Slows but Remains Solid, Driven by Consumption, Government Spending, and Net Exports; June Sees Solid Payroll Growth and Slight Drop in Unemployment; Food-at-Home Index 25% Above its 2019 Average.
r/Superstonk - U.S. Economy in a Snapshot Overview of the July 2023 Snapshot: Q1 GDP Growth Slows but Remains Solid, Driven by Consumption, Government Spending, and Net Exports; June Sees Solid Payroll Growth and Slight Drop in Unemployment; Food-at-Home Index 25% Above its 2019 Average.
r/Superstonk - U.S. Economy in a Snapshot Overview of the July 2023 Snapshot: Q1 GDP Growth Slows but Remains Solid, Driven by Consumption, Government Spending, and Net Exports; June Sees Solid Payroll Growth and Slight Drop in Unemployment; Food-at-Home Index 25% Above its 2019 Average.
r/Superstonk - U.S. Economy in a Snapshot Overview of the July 2023 Snapshot: Q1 GDP Growth Slows but Remains Solid, Driven by Consumption, Government Spending, and Net Exports; June Sees Solid Payroll Growth and Slight Drop in Unemployment; Food-at-Home Index 25% Above its 2019 Average.
r/Superstonk - U.S. Economy in a Snapshot Overview of the July 2023 Snapshot: Q1 GDP Growth Slows but Remains Solid, Driven by Consumption, Government Spending, and Net Exports; June Sees Solid Payroll Growth and Slight Drop in Unemployment; Food-at-Home Index 25% Above its 2019 Average.
r/Superstonk - U.S. Economy in a Snapshot Overview of the July 2023 Snapshot: Q1 GDP Growth Slows but Remains Solid, Driven by Consumption, Government Spending, and Net Exports; June Sees Solid Payroll Growth and Slight Drop in Unemployment; Food-at-Home Index 25% Above its 2019 Average.
r/Superstonk - U.S. Economy in a Snapshot Overview of the July 2023 Snapshot: Q1 GDP Growth Slows but Remains Solid, Driven by Consumption, Government Spending, and Net Exports; June Sees Solid Payroll Growth and Slight Drop in Unemployment; Food-at-Home Index 25% Above its 2019 Average.
r/Superstonk - U.S. Economy in a Snapshot Overview of the July 2023 Snapshot: Q1 GDP Growth Slows but Remains Solid, Driven by Consumption, Government Spending, and Net Exports; June Sees Solid Payroll Growth and Slight Drop in Unemployment; Food-at-Home Index 25% Above its 2019 Average.
r/Superstonk - U.S. Economy in a Snapshot Overview of the July 2023 Snapshot: Q1 GDP Growth Slows but Remains Solid, Driven by Consumption, Government Spending, and Net Exports; June Sees Solid Payroll Growth and Slight Drop in Unemployment; Food-at-Home Index 25% Above its 2019 Average.
r/Superstonk - U.S. Economy in a Snapshot Overview of the July 2023 Snapshot: Q1 GDP Growth Slows but Remains Solid, Driven by Consumption, Government Spending, and Net Exports; June Sees Solid Payroll Growth and Slight Drop in Unemployment; Food-at-Home Index 25% Above its 2019 Average.
r/Superstonk - U.S. Economy in a Snapshot Overview of the July 2023 Snapshot: Q1 GDP Growth Slows but Remains Solid, Driven by Consumption, Government Spending, and Net Exports; June Sees Solid Payroll Growth and Slight Drop in Unemployment; Food-at-Home Index 25% Above its 2019 Average.
r/Superstonk - U.S. Economy in a Snapshot Overview of the July 2023 Snapshot: Q1 GDP Growth Slows but Remains Solid, Driven by Consumption, Government Spending, and Net Exports; June Sees Solid Payroll Growth and Slight Drop in Unemployment; Food-at-Home Index 25% Above its 2019 Average.
r/Superstonk - U.S. Economy in a Snapshot Overview of the July 2023 Snapshot: Q1 GDP Growth Slows but Remains Solid, Driven by Consumption, Government Spending, and Net Exports; June Sees Solid Payroll Growth and Slight Drop in Unemployment; Food-at-Home Index 25% Above its 2019 Average.

TLDRS:

  • GDP growth slowed: Q1 GDP was about .5% below what it would been if since Q42019, it grew at a rate close to long-term forecasts.
  • Consumer real spending on services up 2.6%---still greater then 2%...
  • Average hourly earnings up 4.4% in June**.** The employment-to-population ratio for prime-aged workers was above its pre-pandemic level.
  • Inflation: food-at-home index 25% above its 2019 average
r/Superstonk - U.S. Economy in a Snapshot Overview of the July 2023 Snapshot: Q1 GDP Growth Slows but Remains Solid, Driven by Consumption, Government Spending, and Net Exports; June Sees Solid Payroll Growth and Slight Drop in Unemployment; Food-at-Home Index 25% Above its 2019 Average.

Reddit Post

Read next
IMF: Services price inflation is holding up progress on disinflation

IMF: "Services price inflation is holding up progress on disinflation, which is complicating monetary policy normalization. Upside risks to inflation have thus increased, raising the prospect of higher-for-even-longer interest rates"

The International Monetary Fund said Tuesday in its World Economic Outlook Update that global growth remains on track with the April 2024 World Economic Outlook (WEO) forecast, projected at 3.2% in 2024 and 3.3% in 2025. However, persistent services price inflation is complicating disinflation efforts and in turn,
dismal-jellyfish