Let's Track the Economy (with objective empirical data?)

[essentialsaltes]

Inflation rate edged higher by 2.4% in May, CPI report shows. Here's what that means.​

Inflation heats up in June as President Trump's tariffs start to bite​

Consumer prices in June were up 2.7% from a year ago, according to a report Tuesday from the Labor Department

Rising rents were the main driver of inflation in June. But the price of clothing, appliances and toys also jumped — which likely reflects the effects of import taxes. Clothing prices rose 0.4% while the price of appliances and toys jumped nearly 2%.

Energy and food costs were also higher in June, while the price of new and used cars and airline tickets was down.

Falling energy costs had helped to keep overall inflation in check in recent months. But gasoline prices rebounded in June. And electricity costs jumped by 1%, as hot summer weather kept air conditioners busy.

 

[Akita Suggagaki]

In the midst of so much other chaos this gets missed.

Along with:

The US economy experienced a contraction in the first quarter of 2025, with a decrease of 0.5% in real GDP, marking the first decline since early 2022.

The US federal government is currently operating with a budget deficit. In the first nine months of Fiscal Year 2025, the deficit is $1.34 trillion, which is higher than the same period last year.

The current U.S. national debt is over $36.65 trillion. This figure represents the total outstanding borrowing by the federal government.

The US trade deficit, which represents the difference between the value of goods and services imported and those exported, increased in May 2025 to $71.5 billion, according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. This is up from $60.3 billion in April (revised). The increase was driven by a decrease in exports and an increase in the goods deficit.




Getting worse by the day thanks to Trump.

 

[wing2000]

The Dollar Has Its Worst Start to a Year Since 1973

"The United States’ currency has weakened more than 10 percent over the past six months when compared with a basket of currencies from the country’s major trading partners. The last time the dollar weakened so much at the start of the year was 1973, after the United States had made a seismic shift that had ended the linking of the dollar to the price of gold."

 

[Akita Suggagaki]

The Dollar Has Its Worst Start to a Year Since 1973

"The United States’ currency has weakened more than 10 percent over the past six months when compared with a basket of currencies from the country’s major trading partners. The last time the dollar weakened so much at the start of the year was 1973, after the United States had made a seismic shift that had ended the linking of the dollar to the price of gold."

Seismic shifts do tend to throw the economy and dollar for a loop.

 

[essentialsaltes]

U.S. gross domestic product, or GDP, increased at a 3% annualized rate over three months ending in June. The figure marked a sharp acceleration from an annualized contraction of -0.5% over the first three months of 2025.

To some degree, however, Trump’s levies have blurred the GDP findings.

The government's GDP formula subtracts imports in an effort to exclude foreign production from the calculation of total goods and services. Changes in the reading on this account reveal neither underlying economic weakness nor strength.

The GDP growth "primarily reflected a decrease in imports, which are a subtraction in the calculation of GDP," the U.S. Commerce Department said on Wednesday.

 

[essentialsaltes]

From the preceding month, the [Personal Consumption Expenditures] price index for June increased 0.3 percent [to 2.6%]. Excluding food and energy, the PCE price index also increased 0.3 percent [to 2.8%].

 

[essentialsaltes]

[Jobs numbers]

June 147,000

(May was revised up to 144,000)

U.S. added just 73,000 jobs in July and numbers for prior months were revised much lower​

May and June were revised downward by more than a quarter of a million.

The June total [14,000] came down from the previously stated 147,000, while the May count fell to just 19,000, revised down by 125,000.

The three months added together are barely over 100,000.

In addition, long-term unemployment heated up. Average weeks unemployed jumped to 24.1, the highest level since April 2022, while the level of those out of work for more than 27 weeks to 1.82 million, the most since December 2021 and about one-quarter of all the unemployed.

 

[essentialsaltes]

U.S. added just 73,000 jobs in July and numbers for prior months were revised much lower​

Bring me the messenger!

Trump fires BLS chief for bad news

Trump fires commissioner of labor statistics after weaker-than-expected jobs figures slam markets President Donald Trump on Friday fired the Bureau of Labor Statistics commissioner, hours after the agency reported that job growth in the U.S. had slowed to a near-halt. In a Truth Social post...

www.christianforums.com

Now what does this mean about the reliability of future jobs numbers, or any economic data?

 

[Akita Suggagaki]

Bring me the messenger!

Trump fires BLS chief for bad news

Trump fires commissioner of labor statistics after weaker-than-expected jobs figures slam markets President Donald Trump on Friday fired the Bureau of Labor Statistics commissioner, hours after the agency reported that job growth in the U.S. had slowed to a near-halt. In a Truth Social post...

www.christianforums.com

Now what does this mean about the reliability of future jobs numbers, or any economic data?

Will their be two sets of data? One for the public and a secret one for insiders who know the truth?

 

[essentialsaltes]

Will their be two sets of data? One for the public and a secret one for insiders who know the truth?

If there is, we can surely count on the Most Transparent Administration Ever (TM) to tell us that's the case.