The Bottom Line: Economic Data is Showing Slower Growth, But Inflation is Still High

The Bottom Line: Economic Data is Showing Slower Growth, But Inflation is Still High

November 17, 2022
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Recent data has shown mounting evidence that the pace of economic growth is continuing to moderate.

The final sales numbers from the GDP report, which takes out the volatile components and shows the underlying trend in GDP (it measures the sum of personal consumption and private fixed investment) is slowing (chart 1). At 0.5% quarter over quarter (q-o-q) and 1.0% year over year (y-o-y), it is well below the 2.6% it averaged for the five years before the pandemic.

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