If someone were inventing a curse to fit our immediate economic era, they might put it this way:up from the so-called “advance estimate” of 2.8 percent.
rate from 2.3 percent. Spending on durable goods rose at a 4.9 percent rate, two-tenths higher than the initial estimate, and spending on nondurables rose at a two percent rate, six-tenths higher than the prior estimate. Services spending was much higher, rising at a 2.9 percent annual rate compared with the earlier estimate of 2.2 percent.
Although not everyone agrees that the revision would have excluded many unauthorized immigrants, the increased consumer spending in the latest GDP data supports the idea. If there were more workers, it makes sense that there would be more spending. Certainly, this seems more plausible than an unexplained gain in productivity.There was even more interest in the GDP revision than just the increase in consumer spending.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States United States Latest News, United States United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Breitbart Business Digest: Americans Support Tariffs, Drilling, and Deporting IllegalsSource of breaking news and analysis, insightful commentary and original reporting, curated and written specifically for the new generation of independent and conservative thinkers.
Source: BreitbartNews - 🏆 610. / 51 Read more »
Breitbart Business Digest: The Market Goes Manic for Rate CutsSource of breaking news and analysis, insightful commentary and original reporting, curated and written specifically for the new generation of independent and conservative thinkers.
Source: BreitbartNews - 🏆 610. / 51 Read more »
Breitbart Business Digest: Many Americans Don’t Believe Inflation Is Getting BetterSource of breaking news and analysis, insightful commentary and original reporting, curated and written specifically for the new generation of independent and conservative thinkers.
Source: BreitbartNews - 🏆 610. / 51 Read more »
Breitbart Business Digest: The Potential Danger in Powell’s Jackson Hole DovishnessSource of breaking news and analysis, insightful commentary and original reporting, curated and written specifically for the new generation of independent and conservative thinkers.
Source: BreitbartNews - 🏆 610. / 51 Read more »
Breitbart Business Digest: How the Migrant Surge Likely Drove That Huge Jobs RevisionSource of breaking news and analysis, insightful commentary and original reporting, curated and written specifically for the new generation of independent and conservative thinkers.
Source: BreitbartNews - 🏆 610. / 51 Read more »
Breitbart Business Digest: Manufacturing Jobs Are Shrinking Under Biden-Harris PoliciesSource of breaking news and analysis, insightful commentary and original reporting, curated and written specifically for the new generation of independent and conservative thinkers.
Source: BreitbartNews - 🏆 610. / 51 Read more »