Early signs of stagflation showing up in recent reports on the economy
San José, CA – Two recent reports on the state of the economy gave early hints of stagflation, or rising inflation and rising unemployment. The broadest report was the advanced report on Gross Domestic Product, or GDP, for the first three months of the year.
The GDP deflator, a measurement of the change in prices of all the final goods and services produced in the United States, rose at a 3.7% annual rate, much higher than the 2.4% over all of 2024.
At the same time economic growth slowed, and GDP actually fell 0.3%. This was because of a record surge in imports to get ahead of Trump’s tariffs. About half of the imports seemed to have ended up in inventories. This will put a brake on future economic growth as businesses sell off their inventories instead of producing more. About a quarter of the import surge showed up as business purchases of computers and other information technology equipment. Much of the rest showed up as durable goods like computers and furniture bought by households. As these are long-lasting goods, there will also be less buying in the near future.
The other report was a hiring report by the private ADP company. ADP gives its estimate of private sector jobs a couple days in advance of the Labor Department’s jobs report. The ADP report said that there were 62,000 net new hires in April, less than half the 140,000 that it reported for March and even less than estimates of the ADP number for April. This drop in hiring, if confirmed by the Labor Department report on Friday, would mean that the slowing labor market has taken a turn for the worse.
Many economic commentators have said that Trump’s on and off tariffs are causing uncertainty and less hiring. In the U.S. Senate, there was an attempt to roll back Trump’s so-called “reciprocal” tariffs announced April 2, or as Trump called it, “liberation day.” But not enough Republicans defected to force a tie vote.
At a press conference, Trump said that the economic problems right now are Joe Biden’s fault. Trump did not explain how a man he called “Sleepy Joe” was able to influence the economy long after Trump took office.
#SanJoseCA #CA #Trump #100Days #CapitalismAndEconomy
Source: https://fightbacknews.org/early-signs-of-stagflation-showing-up-in-recent-reports-on-the-economy?pk_campaign=rss-feed
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world. Anyone can join. Anyone can contribute. Anyone can become informed about their world. "United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
LION'S MANE PRODUCT
Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules
Mushrooms are having a moment. One fabulous fungus in particular, lion’s mane, may help improve memory, depression and anxiety symptoms. They are also an excellent source of nutrients that show promise as a therapy for dementia, and other neurodegenerative diseases. If you’re living with anxiety or depression, you may be curious about all the therapy options out there — including the natural ones.Our Lion’s Mane WHOLE MIND Nootropic Blend has been formulated to utilize the potency of Lion’s mane but also include the benefits of four other Highly Beneficial Mushrooms. Synergistically, they work together to Build your health through improving cognitive function and immunity regardless of your age. Our Nootropic not only improves your Cognitive Function and Activates your Immune System, but it benefits growth of Essential Gut Flora, further enhancing your Vitality.
Our Formula includes: Lion’s Mane Mushrooms which Increase Brain Power through nerve growth, lessen anxiety, reduce depression, and improve concentration. Its an excellent adaptogen, promotes sleep and improves immunity. Shiitake Mushrooms which Fight cancer cells and infectious disease, boost the immune system, promotes brain function, and serves as a source of B vitamins. Maitake Mushrooms which regulate blood sugar levels of diabetics, reduce hypertension and boosts the immune system. Reishi Mushrooms which Fight inflammation, liver disease, fatigue, tumor growth and cancer. They Improve skin disorders and soothes digestive problems, stomach ulcers and leaky gut syndrome. Chaga Mushrooms which have anti-aging effects, boost immune function, improve stamina and athletic performance, even act as a natural aphrodisiac, fighting diabetes and improving liver function. Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules Today. Be 100% Satisfied or Receive a Full Money Back Guarantee. Order Yours Today by Following This Link.
| Online: | |
| Visits: | 1,694,090,426 |
| Stories: | 8,410,656 |
Whistler Blowers, Insiders
