The reasons notwithstanding, the positive net exports data portends positively for 3Q real GDP growth, which we anticipate will be close to zero following two quarters of decline. The data may suggest that US consumers and businesses are purchasing fewer goods from abroad or that the inventory restoking is more complete. Meanwhile, the Commerce Department reported a material narrowing in the US trade deficit in July as imports fell by more than exports. Indeed, job vacancies in the recent readings remain near all-time highs suggesting that firms still are challenged by labor shortages and may be more willing to hold onto workers. This suggests that while domestic demand may be slowing – a key metric of recession, the labor market remains robust. Initial jobless claims continued to improve in the week ending September 3 with the four-week moving average edging down for a second consecutive period. ![]() This week CEOs and financial markets received more data to track the progress of the US economy in 3Q and continued hawkish soundings from the Fed. Human Capital Benchmarking & Data Analytics.CED Distinguished Leadership Awards Celebration.Engaged Employee Experience & Talent Acquisition. ![]()
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