Reducing Income and Wealth Inequality
October 30, 2026 Consumer confidence is near a record low level. While there are a variety of causes one that is near the top of the list is the growing inequality of income and wealth. The wealth of the top 10% of households is growing rapidly while those in the...
GDP, Inflation, and Interest Rate Forecasts
October 29, 2026 We expect a 2.8% GDP growth rate in the fourth quarter of this year which would give us 2.7% growth for the year as a whole. We expect 2.4% GDP growth in 2027. Given the GDP forecast above, we expect the unemployment rate to be steady at 4.1% at...
2027 Economic Outlook Conference
2027 Economic Outlook Conference In times of uncertainty whether you are running a business or planning your investments, knowledge can be your most valuable asset. Stephen Slifer, Owner and Chief Economist at NumberNomics will provide insight regarding what...
Employment Cost Index
October 30, 2026 The employment cost index for civilian workers rose 0.8% in the third quarter which works out to a 3.2% annual rate after gaining 3.6% in the secnd quarter. Over the course of the past year it has risen 3.4% but what is important is that it has...
GDP
October 29, 2026 The advance estimate of third quarter GDP growth was 3.4% which compares to 2.2% growth in the first quarter. .The economy is showing no sign of slowing down. Final sales is GDP less the change in nonfarm business inventories. Final sales climbed...
Final Sales
October 29, 2026 When the economy is slowing down, firms will accumulate unwanted inventories. Those inventories still show up in GDP, but they are unsold. Hence, GDP will be biased upwards. Similarly, in good times businesses will reduce inventory levels to...
Final Sales to Domestic Purchasers
October 29, 2026 It is important to remember that final sales is a measure of how many domestically produced goods are sold each quarter. But we also sell goods overseas -- our exports. And we purchase goods from other countries -- our imports. In the...
Gross Domestic Purchases Deflator
October 29, 2026 There are many different deflators that are available. This one is for gross domestic purchases which measures prices paid by U.S. residents. It is the one measure of inflation that the Commerce Department talks about when it releases the GDP...
Personal Income and Consumption Expenditures — Monthly
October 29, 2026 Personal income rose 0.2% in August after gaining 0.3% in July. In the past year personal income has climbed 4.0%. The growth in income is being fueled by wages which rose 0.3% in both July and August.. In the past year wages have risen 4.2%....
Personal Consumption Expenditures Deflator
October 29, 2026 There are many different measures of inflation, but the one that the Federal Reserve considers to be most important is the personal consumption expenditures deflator, in particular the PCE deflator excluding the volatile food and energy components....
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