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US Showing Signs of a 'Goldilocks' Economy
The US economy continues to show signs of resilient growth while inflation pressures subside. Business activity grew at its fastest pace in 27 months during July, according to the latest S&P Global flash US composite PMI.
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Corky
Joined 2005/05/24Visited 2024/09/05
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"The composite PMI, which captures activity in both the services and manufacturing sectors, came in at 55 in July, up from 54.8 in June. Economists had expected the index to tick lower to 54.2.
Importantly, the surprise growth in activity came alongside lower price increases. Average prices charged for goods and services rose at the slowest rate since January and the second-slowest rate since October 2020, according to S&P Global's report.
"The flash PMI data signal a Goldilocks' scenario at the start of the third quarter, with the economy growing at a robust pace while inflation moderates," Chris Williamson, chief business economist at S&P Global Market Intelligence, said in the release."
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Dark Brandon Strikes Again!
#1 | Posted by Corky at 2024-07-24 05:13 PM | Reply
All this fancy talk of composite indexes and PMI and not a single "economics major" is here to lecture us on what it "really" means
You know, having "an honest discussion" or whatever
Disappointing, but in their character i suppose
#2 | Posted by ChiefTutMoses at 2024-07-24 11:27 PM | Reply
They all working the DEI hire angle.
#3 | Posted by LegallyYourDead at 2024-07-25 12:10 AM | Reply
None of this is real. America is a barren wasteland of crime and death, according to Repubicans, and why shouldn't we believe everything THEY say?
#4 | Posted by chuffy at 2024-07-25 12:11 AM | Reply
Yeah, ---- Russia.
#5 | Posted by LegallyYourDead at 2024-07-25 12:16 AM | Reply
If you dont own a home then the economy sucks. If you do then it's awesome.
#6 | Posted by SpeakSoftly at 2024-07-25 01:16 AM | Reply
As an investment professional focused on commercial real estate I've been saying for more than two years that there will be no recession. What I see nationally is a healthy economy that has shaken off the shock of Covid-related issues (e.g., whip-saw of employment highs and lows, the negative effect of just in time' inventory management strategies, government stimulus, etc.) and has steadied itself with continued positive outlook.
Funny that so many MAGA kooks, when asked, report that they are employed in small business, often a business they created. Weak economies punish small businesses. That these red-hat knobs can make a living working for themselves is a clear indication of the strength of the US economy.
Real estate is still a challenging sector-those with low interest rates don't want to see and give up their great mortgages. Builders can get financing but not as much leverage as previously. Workers have moved out of this employment sector to more stable work. Demand for housing is still strong. The wife and I just bought a new house in Ohio, and quickly sold our house in Okiehomie. My work will hold me here for a while, so we are renting in one place and owning in another"with the home owned free and clear. There are plenty of homes for sale in OKC and in other markets-plenty ...
#7 | Posted by catdog at 2024-07-25 07:11 AM | Reply | Newsworthy 1
Real estate is still a challenging sector-those with low interest rates don't want to see and give up their great mortgages.
I've been on the lookout for assumable mortgages recently and itching to snap one up
#8 | Posted by GOnoles92 at 2024-07-25 07:33 AM | Reply
via GIPHY
#9 | Posted by Nixon at 2024-07-25 08:01 AM | Reply | Newsworthy 2
Wow... what if Israel held a war and nobody came...
#10 | Posted by RightisTrite at 2024-07-25 08:21 AM | Reply
Memo to Noles: except for VA and FHA loans, residential mortgages are not assumable. The bond guys who buy RMBS paper focus on prepayment speed' among other things, and do not want the paper they hold to be negatively affected by below market loans that will not go away ...
#11 | Posted by catdog at 2024-07-25 09:05 AM | Reply
#7 | Posted by catdog
Well said. I have found small contractors are booked out months and most of them are charging ludicrous rates now. Most you contact for a quote don't bother to show up when they say they will to give you one or won't even call you back. If we had a down economy these people are scrambling for work.
#12 | Posted by GalaxiePete at 2024-07-25 12:39 PM | Reply | Newsworthy 1
When I see it I'll believe it.
#13 | Posted by Tor at 2024-07-25 08:07 PM | Reply
... The US economy continues to show signs of resilient growth while inflation pressures subside ...
Yup.
US economic growth increased last quarter to a healthy 2.8% annual rate apnews.com
... The nation's economy accelerated last quarter at a strong 2.8% annual pace, with consumers and businesses helping drive growth despite the pressure of continually high interest rates. Thursday's report from the Commerce Department said the gross domestic product -- the economy's total output of goods and services -- picked up in the April-June quarter after growing at a 1.4% pace in the January-March period. Economists had expected a weaker 1.9% annual pace of growth. ...
Thursday's report from the Commerce Department said the gross domestic product -- the economy's total output of goods and services -- picked up in the April-June quarter after growing at a 1.4% pace in the January-March period. Economists had expected a weaker 1.9% annual pace of growth. ...
#14 | Posted by LampLighter at 2024-07-25 08:24 PM | Reply
More from the #14 article...
... The GDP report also showed that inflation continues to ease, while still remaining above the Federal Reserve's 2% target. The central bank's favored inflation gauge rose at a 2.6% annual rate last quarter, down from 3.4% in the first quarter of the year. Excluding volatile food and energy prices, so-called core PCE inflation increased at a 2.9% pace. That was down from 3.7% from January through March. The latest figures should reinforce confidence that the U.S. economy is on the verge of achieving a rare "soft landing," whereby high interest rates, engineered by the Fed, tame inflation without tipping the economy into a recession. ...
The latest figures should reinforce confidence that the U.S. economy is on the verge of achieving a rare "soft landing," whereby high interest rates, engineered by the Fed, tame inflation without tipping the economy into a recession. ...
#15 | Posted by LampLighter at 2024-07-25 08:25 PM | Reply
So... the Fed seems to be piloting the economy to the inflation target of 2% without adversely affecting the employment situation.
Those are the two goals that Congress has set for the Fed.
#16 | Posted by LampLighter at 2024-07-25 08:27 PM | Reply
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