#GDP Data

[trader-sg112]

Key Economic Events and Data Releases for June 27, 2024

Stay updated with today's major economic events including Fed Bank Stress Test Results, Continuing Jobless Claims, GDP Data, and more. Find detailed insights and forecasts.

[newbussinessideas]

FPIs investment hit 9-month high at Rs 43,838 crore in May on strong domestic macro-outlook, reasonable valuation - Times of India

NEW DELHI: Foreign Portfolio Investors (FPIs) pumped in Rs 43,838 crore in Indian equities in May, the highest level in nine months, supported by strong macroeconomic fundamentals, and reasonable valuations.FPIs continued the buying stance in June too, and invested Rs 6,490 crore in just two trading sessions of the month, data with the repositories showed.VK Vijayakumar, Chief Investment…

[gwydionmisha]

Atlanta Fed shock sounds 'Trumpcession' warning: McGeever

Trump is deliberately tanking the economy and then trying to cover it up with more firings and cooking the books. If no federal economic data is reliable then no one can trust it for things like investments, business decisions, government planning for economic downturn, etc.. This is yet another essential step in the Republican plan to ruin the economy for the benefit of Vladimir Putin and a hand full of Billionaires so rich they benefit if there is stagflation, or even worse deflation.

There is no non-sinister reason to do any of this.

Trump administration disbands two expert panels on economic data

Trump Advisers Want to Strip Public Spending From the GDP Tally. Why It Makes No Sense.

[alyfoxxxen]

US Commerce Secretary wants to remove government spending from GDP | Reuters

https://www.reuters.com/world/us/us-commerce-secretary-wants-remove-government-spending-gdp-2025-03-03/

[creator-of-calm-queer-chaos]

My first thought when I saw this was wondering how it lines up to wealth distributions (like the 'owning a horse makes you live longer' thing) so I went and found this map from reddit

For the US, it kind of lines up, with California, Washington, a chunk of New England, and Colorado having the highest life expectancy and GDP per capita, and you have the southern Appalachian states having the lowest. But the rest of it is kind of all over the place, and in Canada it's pretty much flipped (this I would guess has to do with how expensive most things are there, coupled with healthcare access).

Would love to hear others' thoughts on this!!

Life Expectancy in the USA and Canada

[allaboutforexworld]

Dow Jones Index in a Nutshell

The Dow Jones Industrial Average (DJIA), commonly referred to as the Dow Jones Index, is one of the most well-known and widely followed stock market indices in the world. This article delves into the history, significance, components, and impact of the Index on the financial markets. History of the Dow Jones Index The Dow Jones Index was created by Charles Dow, co-founder of Dow Jones & Company,…

[elsaclack]

Yeah okay so like I said in the tags of the last post I’m rising from my tumblr grave to say that the ban on TikTok is symptomatic of a MUCH larger and more terrifying problem. Because yes, on its surface it’s silly dances and asmr and cooking videos and whatever, but in truth and at its core, TikTok single-handedly revolutionized the way 170 million Americans communicated with each other AND the rest of the world. Non-Americans love to point out how America-centric Americans are, but fail to realize that we are purposefully raised in an isolated, insulated environment where we are told from basically day 1 that America Is The Best and not to even bother taking a look around because it’s all downhill from outside of here. TikTok has, for MANY Americans, single-handedly destroyed that notion and allowed them (us!!) to broaden our world-view and realize that actually, things are better in other countries, and it did so in a kind, empathetic, and compassionate way.

And yeah most people wake up to the truth of that on their own as they get older, but holy shit!! The VAST majority of the Americans on TikTok are millennials and gen z (and even some older gen alpha)!! People who are becoming disillusioned with “The American Dream” (said with the HEAVIEST sarcasm) while they’re still school-aged or are just entering young-adulthood!! People who are entering - or TRYING to enter - the American workforce who suddenly have an unfiltered window into non-American lives and are wondering why tf we’re struggling and penny-pinching and toeing the line of poverty while our rich elected officials sit around and fight and argue over everything that actually matters to the citizens they supposedly represent and get richer all the while. THAT is why they’re banning the app, and that fact alone should terrify every single American citizen.

Not to mention the precedent it sets for other social media platforms!! You think some nebulous, unproven, and unfounded “threat to national security” will stop with TikTok?? They’ve already censored Adult Material on tumblr, who’s gonna stop them from coming back and doing it again or getting rid of it altogether for the exact same reason? It’s a blatant act of censorship and a direct attack on the American first amendment right to free speech.

NOTHING radicalized me the way tiktok did. I watched people in my life who were STAUNCH Trump supporters in 2016 AND 2020 wake up to the truth and vote blue for the first time in their lives BECAUSE OF TIKTOK, and did so with al the nuanced understanding that even Democrats are severely failing this country, but are at least better than the alternative. That level of awareness and presence in the average US citizen scares American politicians.

The fact that the vast majority of them - including the ones loudly opposing the ban!! - bought stock in Meta BEFORE the ban was legalized/upheld by the Supreme Court?? That Mark Zuckerberg and Elon Musk were legally allowed to lobby congress to ban TikTok when BOTH stood to DIRECTLY financially gain from their biggest competitor being banned in the US and are guilty of unethically gathering data and selling it to MULTIPLE third parties?? The fact that Trump is now teasing that he may or may not intervene to save TikTok when he was the one who talked about banning it in the first place AND ALSO OWNS HIS OWN COMPETING SOCIAL MEDIA PLATFORM??

It’s the burning of Alexandria. It’s the loss of a significant chunk of culture. It’s the sharp and sudden loss of contact with the rest of the world for more than half of all American citizens. It’s the loss of $240 BILLION dollars in the GDP when the country is already TRILLIONS of dollars in debt. And on an individualistic level, it’s the loss of millions of small businesses and primary income streams for so many individuals and families who found their primary audience on TikTok. Is the app perfect? HELL no. Are there significant changes needed to make it a safe environment for all users? ABSOLUTELY. But that can also be said of ANY social media platform. TikTok openly fostered connection and communication and creativity and compassion that is completely unique to that platform! It made so many people - myself included!! - feel less alone. I get the feeling I know what the general consensus is about TikTok on this site, but the ban on this app should scare the shit out of everyone.

[reasonsforhope]

"The UK’s greenhouse gas emissions fell by 3.6% in 2024 as coal use dropped to the lowest level since 1666, the year of the Great Fire of London, according to new Carbon Brief analysis.

Major contributions came from the closure of the UK’s last coal-fired power station in Nottinghamshire and one of its last blast furnaces at the Port Talbot steelworks in Wales.

Other factors include a nearly 40% rise in the number of electric vehicles (EVs) on the road, above-average temperatures and the UK’s electricity being the “cleanest ever” in 2024.

Carbon Brief’s analysis, based on preliminary government energy data, shows emissions fell to just 371m tonnes of carbon dioxide equivalent (MtCO2e) in 2024, the lowest level since 1872.

Other key findings from the analysis include:

The UK’s emissions are now 54% below 1990 levels, while GDP has grown by 84%.

About half of the drop in emissions in 2024 was due to a 54% reduction in UK coal demand, which fell to just 2m tonnes – the lowest level since 1666.

Another third of the drop in 2024 emissions was due to falling demand for oil and gas, with the remainder down to ongoing reductions in non-CO2 greenhouse gases.

UK coal demand fell at power stations (one-third of the reduction overall) and at industrial sites (two-thirds). In 2024, the UK closed its last coal-fired power station, as well as the final blast furnace at the Port Talbot steelworks. Furnaces at Scunthorpe paused operations. Both sites are due to convert to electric-arc furnaces that do not rely on coal.

Oil demand fell 1.4% despite increased road traffic, largely due to the rise in the number of EVs. The UK’s 1.4m EVs, 0.8m plug-in hybrids and 76,000 electric vans cut oil-related emissions by at least 5.9MtCO2e, Carbon Brief analysis finds, only slightly offset by around 0.5MtCO2e from higher electricity demand.

The UK’s EV motorists each saved around £800, on average, in 2024 – some £1.7bn in total – relative to the cost of driving petrol or diesel vehicles.

Gas demand for heating increased, despite warmer average temperatures than in 2023, as prices eased from the peaks seen after the global energy crisis.

However, gas demand fell overall due to lower gas-fired electricity generation, thanks to higher electricity imports and increased output from low-carbon sources.

The UK would need to cut its emissions by a larger amount each year than it did in 2024, to reach its international climate goal for 2035, as well as its national target to reach net-zero by 2050...

Lowest since 1872

...

Apart from brief rebounds after the global financial crisis and the Covid-19 lockdowns, UK emissions have fallen every year for the past two decades."

-via CarbonBrief, March 12, 2025

[probablyasocialecologist]

Extreme poverty is not a natural condition, but a sign of severe dislocation. Historical data on real wages since the 15th century indicates that under normal conditions, across different societies and eras, people are generally able to meet their subsistence needs except during periods of severe social displacement, such as famines, wars, and institutionalised dispossession, particularly under European colonialism. What is more, BNPL data shows that many countries have managed to keep extreme poverty very close to zero, even with low levels of GDP per capita, by using strategies such as public provisioning and price controls for basic essentials. In other words, extreme poverty can be prevented much more easily than most people assume. Indeed, it need not exist at all. The fact that it persists at such high levels today indicates that severe dislocation is institutionalised in the world economy – and that markets have failed to meet the basic needs of much of humanity. To address this problem, and to end extreme poverty – the first objective of the Sustainable Development Goals – will require public planning to prioritise the production of, and guarantee access to, the specific goods and services that people need to live decent lives.

22 February 2025

[saywhat-politics]

"Unfortunately tossing a scarf over the GDP numbers doesn't change the fact that their policies have us careening toward a downturn."

All signs are pointing to a coming recession as U.S. President Donald Trump imposes tariffs on close trading partners, oversees mass firings of civil servants, and pushes for cuts to public services—but by firing economists, advisers, and other experts tasked with advising federal agencies on economic shifts, the administration is working to ensure that the government and the public can't read those signs.

As Politico reported Friday, experts serving on the Bureau of Labor Statistics' (BLS) Technical Advisory Committee were informed this week that they were no longer needed, leaving the BLS without a panel that has long advised the Labor Department on how economic changes can impact data collection.

A page for the committee was removed from the Labor Department's website, along with one that had information about the Data Users Advisory Committee, which has advised on how businesses and policymakers can use the agency's economic reports.

"It would be a bad sign for a software company to cancel all beta testing if you expect to keep making better software," Michael Madowitz, an economist at the Roosevelt Institute who served on the data users committee, told Politico. "This feels like the same sort of thing."

[contemplatingoutlander]

How Trump is reshaping reality by hiding data

Curating reality is an old political game, but Trump’s sweeping statistical purges are part of a broader attempt to reinvent “truth.”

Trump appears to be turning the federal government into its own 1984-style Ministry of Truth.

This is a gift 🎁 link so there is no paywall to read it. Below are some excerpts/highlights.

By Amanda Shendruk and Catherine Rampell | March 11, 2025 The Trump administration is deleting taxpayer-funded data — information that Americans use to make sense of the world. In its absence, the president can paint the world as he pleases. We don’t know the full universe of statistics that has gone missing, but the U.S. DOGE Service’s wrecking ball has already left behind a wasteland of 404 pages. All sorts of useful information has disappeared, including data on:

[...]

[See more under the cut.]

Three cases of legerdemath and other tricks up Trump’s sleeve

Deleting data isn’t the only way to manipulate official statistics. Trump and his allies have also misrepresented or altered data. Here are a few examples: 1. Incorrect data

Witness DOGE’s bogus statistics on its supposed government savings. The administration counts as “savings” some canceled contracts that had already been paid in full. Some canceled expenses were created out of whole cloth, such as $50 million supposedly spent on sending condoms to Gaza. 2. Misrepresented data

One of Trump’s favorite charts on immigration is riddled with errors. For one, it does not show the number of immigrants entering the United States illegally, as he claims, but the number of people stopped at the U.S. border. Similarly, when Commerce Secretary Howard Lutnick was recently asked how much DOGE funding cuts might reduce economic growth, he suggested that the agency might decide to change how economic growth is calculated so that the usual GDP report strips out government spending altogether. This would be an abrupt change to the standard GDP methodology that has been used around the world for nearly a century, but it would certainly make the DOGE cuts look less painful. 3. Altered data

When data doesn’t tell the story Trump wants, he fabricates it. In what became known as “Sharpiegate,” Trump notoriously altered a map of Hurricane Dorian’s path in 2019.

Likewise, before Jan. 30, a National Institutes of Health website documenting years of spending data included a category called “Workforce Diversity and Outreach.” That line item is now gone — even though the money was, indeed, spent.

Taking cues from authoritarian illusionists

Such actions are straight out of authoritarian leaders’ playbooks. Research suggests that less democratic countries have been more likely to inflate their GDP growth rates and manipulate their covid-19 numbers. Statistical manipulation is also more common in countries that shun economic openness and democracy. [...] To be clear, efforts to rewrite reality via statistical manipulation often don’t work. If anything, China’s data deletions reduced public confidence in the country’s economic stability. (No one hides good news, after all.) The Trump team’s efforts to suppress nettlesome numbers have similarly eroded trust in U.S. data. Only about one-third of Americans trust that most or all of the statistics Trump cites are “reliable and accurate.”

Meanwhile, missing or untrustworthy data lead to worse decisions: Auto companies, for example, draw on dozens of federally administered datasets when devising new car models, how to price them, where to stock and market them and other key choices. Retailers need detailed information about local demographics, weather and modes of transit when deciding where to locate stores. Doctors require up-to-date statistics about disease spread when diagnosing or treating patients. Families look at school test scores and local crime rates when deciding where to move. Politicians use census data when determining funding levels for important government programs.

And of course, voters need good data of all kinds when weighing whether to throw the bums out. Many of us take the existence of economic or public health stats for granted, without even thinking about who maintains them or what happens if they go away. Fortunately, some outside institutions have been saving and archiving endangered federal data. The Internet Archives’ Wayback Machine, for instance, crawls sites around the internet and has become an invaluable resource for seeing what federal websites used to contain. Other organizations are archiving topic-specific data and research, such as on the environment or reproductive health. These are critical but ultimately insufficient efforts. At best, they can preserve data already published. But they cannot update series already halted or purged.... Some private companies may step in to offer their own substitutes (on prices, for example), but private companies still rely on government statistics to calibrate their own numbers. Much of the most critical information about the state of our union can be collected only by the state itself. Americans might be stuck with whatever Trump chooses to share with us, or not.

[political-us]

“The US economy has since World War II consistently done better under Democratic presidents than under Republican presidents. This fact is even less widely known, including among Democratic voters, than the truth about Biden’s term. Indeed, some poll results suggest that more Americans believe the reverse, that Republican presidents are better stewards of the economy than Democrats.

Since World War II, Democrats have seen job creation average 1.7 % per year when in office, versus 1.0 % under the GOP. US GDP has averaged a rate of growth of 4.23 percent per annum during Democratic administrations, versus 2.36 per cent under Republicans, a remarkable difference of 1.87 percentage points. This is postwar data, covering 19 presidential terms—from Truman through Biden. If one goes back further, to the Great Depression, to include Herbert Hoover and Franklin Roosevelt, the difference in growth rates is even larger.”

[communist-ojou-sama]

China’s PPP GDP is only 25% larger than that of the US? Come on people… who are we kidding? Last year, China generated twice as much electricity as the US, produced 12.6 times as much steel and 22 times as much cement. China’s shipyards accounted for over 50% of the world’s output while US production was negligible. In 2023, China produced 30.2 million vehicles, almost three times more than the 10.6 million made in the US. On the demand side, 26 million vehicles were sold in China last year, 68% more than the 15.5 million sold in the US. Chinese consumers bought 434 million smartphones, three times the 144 million sold in the US. As a country, China consumes twice as much meat and eight times as much seafood as the US. Chinese shoppers spent twice as much on luxury goods as American shoppers. With the exception of luxury goods, all of the above are volume or unit measurements and need to be adjusted for quality/features to be comparable apple-to-apples. It would be highly presumptuous of us to discount the 16,000 shop visits conducted by the World Bank and accuse them of grossly lowballing China’s PPP GDP. But that is exactly what we are going to do. It is prima facie ridiculous that China’s production and consumption, at multiples of US levels, can be realistically discounted for lower quality/features to arrive at a mere 125% of US PPP GDP.   It’s not that we think the World Bank has done a bad job. It’s that we believe China’s NBS, contrary to popular opinion, has been lowballing GDP for decades and the World Bank has to work within the confines of the NBS’s reported data. This was politically important decades ago for WTO concessions and it is politically important today to maintain developing economy status as China makes a play for leadership of the Global South. We believe China’s GDP and PPP GDP are lowballed by an incomplete transition from the Material Product System (MPS) of national accounts, which excludes services by design. The World Bank is likely dutifully doing its sums with goods consumption in China multiples of the US but measuring services consumption as a fraction of the US.

...

China’s NBS stood its ground on a conceptual level. Rightly or wrongly, the Leninist MPS considers services necessary costs of material production rather than real value creation. In China’s first attempt at converting MPS to SNA in 1985, it tacked on a ludicrously low 13% to the MPS number and called it China’s services GDP.

[mapsontheweb]

Real productivity growth in Europe in the past 20 years

Source: OECD data explorer. Data for Turkey, Mexico and Australia is integrate with data from national agencies. The data for Ireland, Luxembourg and Norway has to be interpreted with caution, as hourly productivity is defined as the GDP for hour worked, so countries with high GDP fluctuations due to external causes (tax policies for Ireland and Luxembourg, oil prices for Norway) can have productivity data that do not reflect true growth.

by slicheliche/reddit

[fairuzfan]

I was looking at gdp per capita of countries cuz I saw an author say "if your country has a gdp per capita less than $10000 then go ahead and pirate my book" so I was interested to see what common gdps are-- of course I looked at the middle east and compared israel and surrounding countries and this is ridiculous.

Jordan, Egypt, and Lebanon have somewhat similar gdppcs, with Jordan being the highest at $4455.

Syria has the lowest ( but it's also an estimate from 2022) at $1,051:

Israel gdp in 2023 according to the world bank public data is $52,542!!!!!! That's so much!!! Not to mention, all this is gathered towards the Israeli jews rather than any Palestinians!

For context that's more than half of the gdp of the US and even bigger gdp than the uae and united kingdom!