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US: Q3 2023 Growth Surpasses Expectations!
514 sats \ 13 comments \ @TomK 29 Nov 2023 meta
A lot of fresh fire power for Jerome Powell's Federal Reserve:
In a surprising turn of events, the US economy has demonstrated remarkable resilience in the third quarter of 2023. The latest data revision by the Department of Commerce reveals a robust 5.2% growth in Gross Domestic Product (GDP) compared to the previous quarter, surpassing economists' predictions of 5.0%. Dow Jones Newswires' experts initially estimated a 4.9% increase.
This unexpected surge underscores the nation's economic vitality, defying earlier projections. The Personal Consumption Expenditures (PCE) deflator, a key inflation metric favored by the Federal Reserve, rose to 2.8% (preliminary: 2.9%) from the previous quarter's 2.5%.
Meanwhile, the GDP deflator, a comprehensive measure of price changes across all goods and services, reached 3.6% (preliminary: 3.5%), surpassing economists' expectations of 3.5%. This one should worry anyone who is hoping for a fast pivot! With these data the Fed clearly is winning the chicken game between the large central banks.
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0 sats \ 1 reply \ @grayruby 29 Nov 2023
Just goes to show how much they are lying about inflation.
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50 sats \ 0 replies \ @TomK OP 29 Nov 2023
I know. But if the deflator even after manipulating the data is rising.... it's telling
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0 sats \ 8 replies \ @fm 29 Nov 2023
i wonder why..
U.S. was top LNG-exporting country in first half of 2023 Qatar was the world's leading LNG exporter for years, until Australia surpassed it in 2021. The two countries have continued to export similar amounts of LNG since. Meanwhile, U.S. exports have skyrocketed.
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0 sats \ 7 replies \ @TomK OP 29 Nov 2023
Do You think that this factor contributes that much?
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25 sats \ 1 reply \ @fm 29 Nov 2023
well, this is just one. You have to add the migration of companies after INFLATION REDUCTION ACT..
BERLIN, March 1 (Reuters) - The Biden administration's effort to promote climate-friendly technologies through the Inflation Reduction Act (IRA) is attracting German companies to the United States, a survey of the German Chamber of Commerce and Industry DIHK released on Wednesday showed. According to the DIHK survey of 2,400 companies from all sectors, one in 10 German companies is already planning to relocate production to other countries. The report showed that North America, and particularly the U.S., have become more popular for business. European Union leaders have expressed concern that local content requirements of much of the $369 billion of subsidies in the IRA, which was enacted in 2022, would encourage companies to abandon Europe for the United States.
RIP Nord Stream 2...
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21 sats \ 0 replies \ @TomK OP 29 Nov 2023
Thank You. That is important. Well played, I would say!
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10 sats \ 4 replies \ @fm 29 Nov 2023 freebie
some germans seam to see it
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0 sats \ 3 replies \ @TomK OP 29 Nov 2023
He's right for the first time in his life.
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0 sats \ 2 replies \ @fm 29 Nov 2023
hahha, truth is i dont follow german politics.. I dont know him.. But im pretty sure he has some reason on this statment.
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0 sats \ 1 reply \ @TomK OP 29 Nov 2023
Yes. But he is a terrible commie with a Porsche
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0 sats \ 0 replies \ @fm 29 Nov 2023
La izquierda Caviar.. Un clasico :)
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0 sats \ 1 reply \ @Undisciplined 29 Nov 2023
Somehow, the other central banks always seem to screw up first/more and the dollar remains the least dirty shirt in the laundry.
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100 sats \ 0 replies \ @TomK OP 29 Nov 2023
The Fed is running the biggest Ponzi
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