Here are the key economic metrics for November: Prices declined 0.1% for the month. Annual inflation rate fell to 2.6%. Core CPI is 3.2%, which is down from 3.4% annualized in October. Consumer spending, accounting for seasonality, increased 0.2% in November. When also accounting for inflation, this rose to 0.3% increase. Personal income grew 0.4%. Savings as a percentage of income grew to 4.1% from 4%. Employment increased by 199k The unemployment rate fell to 3.7%. S&P 500 is up 4.17% over the last month. Prices fell last month for the first time since April 2020 | CNN Business
The Economist ranked how countries' economies performed in 2023 (using core price % increase, inflation $ increase, GDP % change, employment % change, and share prices % change): 1 Greece 2 South Korea 3 United States 4 Israel 5 Luxembourg 6 Canada 7 Chile 8 Portugal 8 Spain 10 Poland Which economy did best in 2023?
The misery index says the worst is over The misery index — the sum of the unemployment rate and the inflation rate — is ending 2023 at 6.8%. That's its lowest point since the pandemic hit in March 2020 and well below the 8.3% average for the century to date. Why it matters: Unemployment and inflation are the two great causes of real (rather than merely vibes-based) economic misery. The bottom line: The double whammy wrought by COVID-19 — first a huge spike in unemployment, and then a big rise in inflation — now seems to be over, with both indicators reverting to low levels indicative of a healthy economy. https://www.axios.com/2023/12/21/misery-index-economy
Hmm, strange. I thought the people who complained most about how terrible the economy are might be interested in this broad set of data about the performance of the exonomy. I'm surprised that it doesn't appear like they are. I wonder why.
I think the problem is the narrative around the economy is bad. And whether that is based on stats or not doesn't really matter. A lot of economists argue that one of themajor causes of a recession is simply the mood and lack of faith of consumers, and little more.
Good info. where we would be if we paid our expenses vs passing it on to the next generation. ie we would have more taxes, less expenditures, less support for seniors, pull gov investments and gov payroll that impacts economy
or are more dissatisfied with their perceived buying power. but is this the new normal? Is this is as good as it gets?
Seems weird all the people who think the economy is in shambles aren’t acting like it with their wallets.
If the traffic in Jacksonville the week before Christmas was any indication, people were out and busy ....
From Fox: Media spent 2023 trying to convince financially strapped Americans that economy is ‘booming’ under Biden
And this is why Republicans have spent the past two administrations thinking that the economy is terrible when it really wasn't. I have long stated that it is a media consumption issue. CNN will give you economic news regardless of its implications. Fox won't.
Biden was trolling Trump a couple weeks ago about predicting a stock market crash ... yesterday set an S&P record high Friday close, a 9-week winning streak, and up 24% for the year. Shows why Trump isn't the businessman that he thinks he his.
Agreed. This Fox story is more a dig at the media than it is at Biden's economy. In fact, it starts off saying that the numbers show that the economy is better than most Americans think it is. But then the rest of the story complains that the media has been doing stories saying that the numbers show the economy is better that most Americans think it is. Damn lamestream media!
