2023 US GDP Predictions
The economic waters remain treacherous as we head toward 2023, and much of the focus has been on inflation and how to control it without tipping the US into recession. Part of that plan, led by the Federal Reserve, involves closely monitoring GDP. If you’re wondering exactly what is GDP, it is simply a measure of the size and health of the economy. GDP stands for gross domestic product and is measured every quarter by the Bureau of Economic Analysis, using data on the value of a representative sample of goods and services, obtained by the Bureau for Labor Statistics. Ideally, GDP should be growing constantly. But like any economist, trader or financial analyst, the officials at the Fed cannot look at just one indicator. In 2022, inflation was the pressing problem, and that is li...
