Separating the Signal from the Noise:
The ‘core GDP’ measure, which captures real final sales to private domestic purchasers, offers a useful gauge of underlying demand in the economy. It indicates that the U.S. economy slowed down during the first half of 2025. See chart:
https://fred.stlouisfed.org/graph/?g=1L0aU
The ‘core GDP’ measure, which captures real final sales to private domestic purchasers, offers a useful gauge of underlying demand in the economy. It indicates that the U.S. economy slowed down during the first half of 2025. See chart:
https://fred.stlouisfed.org/graph/?g=1L0aU
Related:
U.S. Economy Slowed in First Half of 2025 as Tariffs Scrambled Data
https://www.nytimes.com/2025/07/30/business/us-economy-grew-in-second-quarter-as-tariffs-scrambled-data.html
Gross domestic product rebounded in the spring after contracting at the start of the year, but consumer spending remained weak.
https://www.nytimes.com/2025/07/30/business/us-economy-grew-in-second-quarter-as-tariffs-scrambled-data.html
Gross domestic product rebounded in the spring after contracting at the start of the year, but consumer spending remained weak.
The Weirdest GDP Report Ever
https://www.wsj.com/opinion/gdp-report-economy-consumers-donald-trump-tariffs-d9879d98
The economy grew 3%, but mainly because imports collapsed. Alas, investment fell too.
Rebound in US economic growth in second quarter masks underlying slowing trend
https://www.reuters.com/world/us/rebound-us-economic-growth-second-quarter-masks-underlying-slowing-trend-2025-07-30
https://www.wsj.com/opinion/gdp-report-economy-consumers-donald-trump-tariffs-d9879d98
The economy grew 3%, but mainly because imports collapsed. Alas, investment fell too.
Rebound in US economic growth in second quarter masks underlying slowing trend
https://www.reuters.com/world/us/rebound-us-economic-growth-second-quarter-masks-underlying-slowing-trend-2025-07-30
The Tariffs Kicked In. The Sky Didn’t Fall. Were the Economists Wrong?
https://www.nytimes.com/2025/07/31/opinion/tariffs-economy-inflation-recession.html
https://www.nytimes.com/2025/07/31/opinion/tariffs-economy-inflation-recession.html