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Macro: GDP Q3 — Inflationary BOOM!

Outside of the pandemic defined as 2020 and 2021, this past quarter was the 5th best quarter for nominal GDP in the last 25 years.

Macro: GDP Q3 — Inflationary BOOM!

It was the best real growth quarter since Q2 and Q3 of 2014.

Macro: GDP Q3 — Inflationary BOOM!

The last 12 months has been  mostly about services, here are the biggest contributors to YoY GDP:

  1. Consumption of Services
  2. Consumption of Goods
  3. Lower imports
  4. Government
  5. Non-residential investment in structures
  6. Intellectual property

Macro: GDP Q3 — Inflationary BOOM!

Q2 to Q3, we saw an acceleration in goods consumption and state and local government spending. We also saw a surge in exports across the board (petroleum and products, autos and parts, travel and even consumer goods). And the 3rd differentiator making Q3 a standout quarter was the re-acceleration in residential investment we’ve been seeing.

Disclaimer: This information is presented for informational purposes only and does not constitute an offer to sell, or the solicitation of an offer to buy any investment products. None of the information herein constitutes an investment recommendation, investment advice or an investment outlook. The opinions and conclusions contained in this report are those of the individual expressing those opinions. This information is non-tailored, non-specific information presented without regard for individual investment preferences or risk parameters. Some investments are not suitable for all investors, all investments entail risk and there can be no assurance that any investment strategy will be successful. This information is based on sources believed to be reliable and Alhambra is not responsible for errors, inaccuracies, or omissions of information. For more information contact Alhambra Investment Partners at 1-888-777-0970 or email us at [email protected].
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