Hyla
on October 28, 2022
14 views
You can see the import/export dynamic in whole dollars within Table 1:
We exported 17.2% more goods in the third quarter than in the second quarter (that’s mostly energy sales and food sales to the global market).  We imported 8.7% less goods in the third quarter than the second quarter.  That’s mostly the drop in companies ordering products from overseas for sales in the United States.  Companies imported less because inventories climbed as consumers stopped purchasing durable goods and non-essentials.
Table – 2 (modified for clarity) shows us the impact or contribution from the import/export dynamic:
The Biden administration will use the +2.6% GDP number to claim the U.S. “recession” never existed, the domestic U.S. economy (Main Street) is making less stuff and consumers are buying less stuff.
 Biden administration claim of a growing economy falls flat – because the only part of the economy that is growing is the part that fuels the energy needs of Europe.
Dimension: 862 x 495
File Size: 231.53 Kb
Like (1)
Loading...
1