🧵1
GDP experienced a reacceleration in 2Q23, growing at an annualized rate of 2.4% quarter-on-quarter, surpassing both the estimated 1.8% and the previous quarter's 2%.
#USGDP#EconomicGrowth#InflationConcerns
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📉Slight drag on GDP from higher trade deficit
Exports fall at 10.8%, imports decline at 7.8% annual pace
Inflation eases to 2.6% from 4.1% in Q1
GDP reflects strong economic performance, challenges ahead with inflation
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📈 Excluding transportation, new orders increase by 0.6%
Demand rises for capital goods (11.2%)
Nondefense capital goods surge by 16.9%
Excluding defense, new orders rise 6.2%
Non-defense capital goods excluding aircraft up by 0.2%
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US Durable Goods Orders soar in June 2023! 🚀
Jumped 4.7% MoM, highest since July 2020
Surpasses market expectations of 1% increase
Fourth consecutive month of growth
#EconomicIndicators#DurableGoods#BusinessGrowth
@CalebFranzen 👨💼Good news for the job market, Lowest since January suggests jobseekers finding new jobs.
Stubborn tightness in US labor market persists
Federal Reserve may extend its tightening cycle in September.
@MWellerFX 👨💼Good news for the job market, Lowest since January suggests jobseekers finding new jobs.
Stubborn tightness in US labor market persists
Federal Reserve may extend its tightening cycle in September.
@HedgeyeUSA 👨💼Good news for the job market, Lowest since January suggests jobseekers finding new jobs.
Stubborn tightness in US labor market persists
Federal Reserve may extend its tightening cycle in September.
@CambrianMR 👨💼Good news for the job market, Lowest since January suggests jobseekers finding new jobs.
Stubborn tightness in US labor market persists
Federal Reserve may extend its tightening cycle in September.
@_CoinCapital_ 👨💼Good news for the job market, Lowest since January suggests jobseekers finding new jobs.
Stubborn tightness in US labor market persists
Federal Reserve may extend its tightening cycle in September.
#InitialJoblessClaims
Act: +221k
Est: +235k
Prev: +228k prior
#ContinuingClaims
Act: +1.69M
Est:+1.75M
Prev: +1.749M
Greatest increases in VT (+234k) and CO (+131k)
Greatest decreases in NY (-9.4k), CA (-4.4k), & GA (-3.1k)