Download the September 2023 Snapshot
- Q2 GDP growth was solid. Consumer spending on services, state and local government spending, and fixed investment were substantial contributors to growth. Residential investment spending and net exports were modest drags on growth.
- Consumer spending in July rose sharply over the month, while real disposable income fell slightly. The gap between consumer spending and income drove a drop in the personal saving rate. Housing starts were up over the year.
- Payroll growth was solid in August while the unemployment rate rose due to a jump in people entering the labor force. The employment-population ratio has been stable since the beginning of the year. The rate of increase in hourly earnings, measured over the year, fell slightly.
- Core PCE inflation over the year rose modestly in July, with a decline in inflation for core goods offset by an increase in inflation for core services. Rent inflation continued to ease, but was still high. The food price index has been unchanged since January.
We post accompanying data for the charts, if permitted, with the intent to expand the series to the fullest extent possible.
Read more about the launch of the series: Just Released: U.S. Economy in a Snapshot
, Liberty Street Economics
, June 2015.
2023 Release Dates