Happy October! U.S. GDP is estimated to be roughly 5 percent for Q3 2023, which is a far cry from the contractions of -2.0 percent and -0.6 percent of Q1 2022 and Q2 of 2022. However, much of the recent growth is a result of the expansion of U.S. deficit spending by $578 billion compared to this time last year. If you take away U.S. government spending increases of 2.27 percent of U.S. GDP, you realize the past 12 months of U.S. GDP growth of 2.4 percent virtually disappears. There remain reasons to be optimistic, but also reasons to remain cautious as the U.S. economy shifts away from 13 years of interest rates controlled by the Federal Reserve to market interest rates. Until we finish this transition, enjoy the cooler weather of the season with family and friends!
Topics:
Uneven Jobs Recovery
College Forecast: Skepticism Toward Higher Education Rises
HDHP/HSA Pairing May Help Control Medical Costs
You’ve Received an Inheritance, Now What?
