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Chart of the day: GDP growth in Q4 of 2022

Today was GDP day, and it turns out that GDP growth in the last quarter of 2022 was just like the wee bear's porridge: not too hot and not too cold:

There are no surprises in the details. Personal expenditures were up, private investment was up (except for houses), and government expenditures were up. Growth was very evenly spread.

With any luck, the Q4 number was high enough to indicate that the economy is still doing OK, but not so high that the Fed wigs out and decides to crush future growth with more interest rate hikes. Cross your fingers.

4 thoughts on “Chart of the day: GDP growth in Q4 of 2022

  1. Ken Rhodes

    When your only tool is a hammer, every problem looks like a nail.

    So long as they still use Year-over-year to measure inflation, the Fed will continue to use their only tool--interest rates--to continue to hammer away at inflation.

    Genius has its limitations, but stupidity is boundless. And don't assume that just refers to the Fed. Congress fits that analogy too.

  2. Vog46

    Well, I don't believe we're doomed - not yet anyway
    Unemployment has been too low for too long. Once you get below 4% or so you start to see some people clamoring for more money in their checks.
    But where we are at right now is going to require a "reset" of the employment picture. The boomers are almost all out of the workforce THEY ARE NOT LOOKING FOR WORK which means they have dropped out of the work force.
    Once the boomers are dead meaning they are no longer consumers of goods and services things will even out again. We are at the highest level of consumers to producers for goods and services as we have ever been.
    This in itself will cause a recession but a mild one.

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