[Tree] Gratitude for economic conditions in San Diego
Version 0.58 (2024-11-22 13:37:54.241000)
updates: Added insights from San Diego economists on the economy
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Version 0.57 (2024-03-28 17:17:24.785000)
updates: Provides insights into the correlation between GDP growth and core inflation in the US
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Version 0.56 (2024-03-27 22:17:33.339000)
updates: Includes discussion on the strengths and limitations of a strong economy
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Version 0.55 (2024-03-13 22:23:28.113000)
updates: Integrates an article that questions the stability of the US economy and highlights the issues of debt and inflation
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Version 0.54 (2024-02-14 12:15:47.135000)
updates: Inclusion of conflicting indicators and viewpoints, concerns about rising living costs, and the comparison of the current economy to the 1990s
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Version 0.53 (2024-01-27 09:53:57.437000)
updates: Comparison of the current US economy to the economy of the 1990s
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Version 0.52 (2024-01-24 01:04:26.288000)
updates: Includes an opinion piece from The Washington Post on the state of the economy and its impact on public perception and elections
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Version 0.51 (2024-01-23 09:55:38.936000)
updates: Integrates the concept of the vibecession and its potential end into the narrative
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Version 0.5 (2024-01-18 17:46:58.075000)
updates: Axios article criticism of Trump's economic record
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Version 0.49 (2024-01-18 09:44:31.947000)
updates: Integrates new information about the government artificially boosting the economy through high levels of government spending, concerns about the Federal Reserve, and the Supreme Court hearing cases that could impact the administrative state
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Version 0.48 (2024-01-18 00:22:59.706000)
updates: Added information about the White House taking credit for retail sales bounce
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Version 0.47 (2024-01-15 14:15:56.311000)
updates: Integration of new information about challenges and public perception
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Version 0.46 (2024-01-12 08:15:14.716000)
updates: Contrary to former President's claims, US economy thriving
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Version 0.44 (2024-01-06 06:22:04.222000)
updates: Integration of White House's perspective on the US economy
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Version 0.42 (2023-12-31 15:02:23.885000)
updates: Integration of Jared Bernstein's comments on positive economic data and momentum for 2024
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Version 0.41 (2023-12-31 13:00:57.542000)
updates: Updates on the US economy's performance under Biden
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Version 0.4 (2023-12-22 21:02:24.028000)
updates: New information about the US economy thriving under Bidenomics
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Version 0.39 (2023-12-22 18:00:40.287000)
updates: Democrats entering the festive season, upgraded economic and inflation forecasts
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Version 0.38 (2023-12-19 17:01:38.177000)
updates: Positive economic outlook, Democrats entering the election year
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Version 0.37 (2023-12-14 14:57:17.208000)
updates: Updated information on GDP growth, consumer spending, inflation, and labor market
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Version 0.36 (2023-12-11 07:53:11.804000)
updates: The U.S. economy is expected to end the year with vigorous growth despite slowing down, according to a report by Chain Store Age. The GDP growth for the year is projected to be 2.5%, higher than expected. The GDP grew at an annualized pace of 3.2% in the first three quarters and is expected to slow to 1.2% in the fourth quarter. Gross domestic income (GDI) grew less than GDP for the fourth consecutive quarter, indicating a slowdown. Consumer spending and retail sales have also slowed down. However, hiring remained steady in October, although job openings were at their lowest level since March 2021. Inflation, as measured by the Personal Consumption Expenditures Index, was at 3% year over year in October, the lowest level in two-and-a-half years. The U.S. economy grew at a robust annualized rate of 4.9% in the last quarter, marking the largest growth since 2021, according to a report by Aviation Analysis Wing. This growth was driven by consumer spending, government spending, and export growth. Rising wages relative to prices have increased families' spending power, contributing to the strong economic performance. However, experts expect economic growth to slow in the next quarter due to decreasing savings and global uncertainty. The revised report by the Department of Commerce also indicates that the U.S. economy grew at a rate of 5.2% in the third quarter of 2023, surpassing initial estimates. This growth rate exceeds economists' forecast of 5%. The upward revision was mainly due to better-than-expected business investment, government spending, and the housing sector. Nonresidential fixed investment saw an increase, contributing to the overall growth. Consumer spending increased at a solid 3.6% annual rate, slightly lower than the previous estimate of 4%. Private investment also surged at a 10.5% annual pace, including a 6.2% rise in housing investment. The economy also benefited from companies building inventories and government spending. Despite the strong GDP growth, there are signs that the economy is slowing. Momentum appears to have waned as higher borrowing costs curb hiring and spending. The labor market is easing, with job growth slowing and the unemployment rate rising. Cooling consumer spending and a downturn in the housing market are also contributing to the slowdown. Economists expect further cooling in the coming months as higher interest rates impact borrowing costs. Slowing demand has raised optimism that the Federal Reserve is probably done raising interest rates this cycle. Some economists forecast a slowdown in economic activity in Q4 and expect a recession starting in mid-2024 due to tight monetary policy, but it is expected to be short and mild. The U.S. economy's resilience and adaptability have contributed to its growth and stability in the face of various challenges. According to the report, the U.S. economy received a boost from inventory building and increased government spending. Corporate profits also saw a significant rise, with non-financial sectors leading the way. However, there are signs of a slowdown as the year closes, with modest increases in inflation-adjusted outlays. The U.S. merchandise trade deficit widened in October. The overall economic landscape is navigating through various internal and external pressures. Looking ahead, economists predict a mild recession or slowdown in growth for 2024 due to low savings rates, increased credit card usage, and delinquency rates. Gross domestic income, largely composed of wages and salaries, has been declining in the US over the past four quarters. This is because inflation has eroded the real income of consumers, despite wage increases. Prices for transportation, food, and housing have increased by 25%-35% since January 2019. The perception that consumers are better off due to wage increases and a strong labor market has led to continued spending. In Canada, the economy avoided a recession, but GDP growth contracted in Q3. The labor market is also slowing, but wage gains remain robust. The Bank of Canada is unlikely to hint at rate cuts, as their rate hike campaign is working. Consumers are reeling in spending, and growth is consistent with inflation inching closer to the 2% target.
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Version 0.35 (2023-12-08 21:52:50.821000)
updates: U.S. economy projected to end year with vigorous growth
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Version 0.34 (2023-12-07 23:16:10.045000)
updates: The U.S. economy grew at 4.9% in the last quarter, the largest growth since 2021. Consumer spending, government spending, and export growth contributed to this result. Rising wages relative to prices have increased families' spending power. Experts expect economic growth to slow in the next quarter due to decreasing savings and global uncertainty.
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Version 0.33 (2023-12-07 18:53:30.585000)
updates: Revised Q3 GDP growth rate, signs of economic slowdown, inflation-adjusted outlays, widened merchandise trade deficit in October, predictions of mild recession in 2024
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Version 0.32 (2023-12-03 06:38:44.511000)
updates: U.S. economy grew at 5.2% in Q3, revised up from 4.9% [e8a46266]
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Version 0.31 (2023-12-02 02:36:14.761000)
updates: Includes analysis of the U.S. and Canadian economies
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Version 0.3 (2023-12-01 07:35:37.107000)
updates: Information about the U.S. economic growth rate in Q3 and predictions for a potential recession in 2024
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Version 0.29 (2023-11-30 21:34:33.553000)
updates: Private investment driving GDP growth, Federal Reserve comfortable with interest rates, ample liquidity and wealth to prevent shocks
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Version 0.28 (2023-11-30 17:34:26.261000)
updates: The U.S. economy experienced a 5.2% growth in the third quarter, the fastest in nearly two years. Consumer spending increased at a rate of 3.6%, while business investment and housing were stronger than initially reported. Gross domestic income rose by 1.5%. Despite a downward revision, consumer spending remained robust due to a strong job market and increased travel and events. The start of the holiday shopping season showed mixed results, with Cyber Monday sales reaching a record high but Black Friday sales disappointing. The Federal Reserve's preferred inflation metric was revised down to a 2.8% annual rate. Adjusted pretax corporate profits increased, primarily in the non-financial sectors. After-tax profits for non-financial corporations also improved.
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Version 0.27 (2023-11-30 12:46:27.123000)
updates: Discussion on U.S. economic outlook, Q4 growth forecast, German inflation, Eurozone economic sentiment
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Version 0.26 (2023-11-30 08:34:22.130000)
updates: U.S. economic growth revised up to 5.2% in Q3
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Version 0.25 (2023-11-30 06:38:43.981000)
updates: Revised Q3 growth rate, additional details on sectors contributing to growth, signs of economic slowdown, forecast of a recession in mid-2024, Australian economy highlights
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Version 0.24 (2023-11-30 04:34:59.630000)
updates: Revised Q3 growth rate, consumer spending, private investment, government spending
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Version 0.23 (2023-11-30 03:35:29.637000)
updates: U.S. economy's Q3 growth revised upwards to 5.2%
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Version 0.22 (2023-11-29 23:33:42.740000)
updates: U.S. economic growth revised up to 5.2% in Q3
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Version 0.21 (2023-11-29 21:34:53.028000)
updates: Inclusion of information about the Australian economy and high inflation
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Version 0.2 (2023-11-29 21:34:32.456000)
updates: The U.S. economy grew at a robust annualized rate of 5.2% in the third quarter, surpassing initial estimates
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Version 0.19 (2023-11-29 21:34:15.802000)
updates: New information on government spending, housing sector, corporate profits, trade deficit
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Version 0.18 (2023-11-29 20:34:42.721000)
updates: Consumer spending revised downwards to 3.6%, signs of economic slowdown
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Version 0.17 (2023-11-29 19:34:18.640000)
updates: Revised Q3 GDP growth rate, signs of economic slowdown, forecasted Q4 slowdown
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Version 0.16 (2023-11-29 18:34:12.253000)
updates: Revised GDP growth rate, consumer spending rate, private investment rate, job market conditions, forecasted economic slowdown in Q4 and 2024
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Version 0.15 (2023-11-29 18:33:49.608000)
updates: The US economy grew faster than initially thought in Q3
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Version 0.14 (2023-11-29 17:34:06.913000)
updates: Includes information on the Q3 growth rate, consumer spending, private investment, and predictions of a slowdown in Q4 due to higher borrowing rates
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Version 0.13 (2023-11-29 17:33:45.350000)
updates: The growth rate was revised up to 5.2% from 4.9% [9128ff42]
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Version 0.12 (2023-11-29 16:34:50.010000)
updates: Revised GDP growth rate for the third quarter
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Version 0.11 (2023-11-29 16:34:26.752000)
updates: Revised GDP growth rate, details on business investment and consumer spending, labor market conditions
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Version 0.1 (2023-11-29 16:33:55.532000)
updates: GDP growth rate revised upwards to 5.2% in Q3
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Version 0.09 (2023-11-29 15:34:32.204000)
updates: The US economy grew at a faster pace than expected in the third quarter of 2021, according to the latest data. The country's gross domestic product (GDP) increased at an annualized rate of 2.3% in Q3, surpassing economists' forecasts of 2.1%. This growth was driven by increased consumer spending, which rose by 2.8%, and a surge in business investment. However, the report also highlighted some challenges, including supply chain disruptions and rising inflation. Despite these obstacles, the stronger-than-expected GDP growth indicates a positive recovery for the US economy.
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Version 0.08 (2023-11-29 15:34:12.649000)
updates: Updated information on consumer spending, private investment, and job market
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Version 0.07 (2023-11-29 15:33:48.371000)
updates: GDP growth revised up to 5.2%, consumer spending revised downward
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Version 0.06 (2023-11-29 14:34:37.213000)
updates: Revised Q3 GDP growth rate to 5.2%, added information about business investment and government spending
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Version 0.05 (2023-11-29 14:34:14.667000)
updates: The US job market remains healthy, growth expected to slow in Q4
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Version 0.04 (2023-11-29 14:33:49.665000)
updates: GDP growth revised up to 5.2%, consumer spending lowered to 3.6%
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Version 0.03 (2023-11-22 17:57:11.573000)
updates: US economy shows continued resilience with 4.9% Q3 growth
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Version 0.02 (2023-11-22 16:58:56.828000)
updates: Discussion on the growth impact of US fiscal policies on multi-asset investing.
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Version 0.01 (2023-11-10 01:24:13.933000)
updates: Restructured and organized the content for clarity and impact
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