Is your love life feeling like the stock market? Volatile, but trending upward? 😍📈 Keep swiping right, babes. Prince Charming is one tap away! 🤴🏻
While many Americans are still struggling to make ends meet, economists are reporting positive data points about how things are going. Let’s get nerdy and unpack some of the stats. 🤓👇
Here’s Five Fast Facts on U.S. economic growth:
- 📈 You Down with GDP? - According to the Commerce Department’s freshly revised data on Q2, U.S. gross domestic product (GDP) climbed to 3.8%. That’s the strongest we’ve seen since Q3 2024, and higher than the recent estimate of 3.3%.
- 🛒 Yeah, You Know Me - Although surveys show shoppers feel Debbie Downer about spending, consumer spending also got an upward revision. New data shows a jump to 2.5% from 1.6%. Some worry about a developing “two-tier” economy where the middle class gets lumped in with the lower…and the gap between them and the upper income folks widens.
- 👷🏽♂️ Job Jargon - Claims for unemployment assistance are also down, but that may not mean much overall. The Federal Reserve estimates the nation’s unemployment rate to jump from 4.3% to 4.5% by the end of the year.
- ✂️ Making the Cut - Speaking of the Fed, the recent rate cut was mostly in response to a crappy job market. Experts believed it would be followed by more, but this latest data could change the tune. In light of favorable economic data, we might not see additional cuts this year.
- 🫧 Bot Bubble Watch - AI has been growing like an out of control weed, and stocks are rallying in the market. During the first half of 2025, investments in computers, electronics, and power-supply parts hit almost record levels. However, some warn that AI could be propping everything up, especially when we consider tariffs and fed spending cuts elsewhere.
🔥Bottom line: Hey, the talking heads can talk all they want, but the truth lies in the average American’s experience. If we can’t find jobs, can’t pay the bills, and keep piling on the debt, are things really hunky dory? Speaking of economic tidbits, housing prices are falling, but not everywhere. Check out this article for more on the housing market.
What’s your outlook on today’s economy?
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