Download the November 2022 Snapshot
- Employment growth moderated, wage inflation eased, housing starts fell, and core inflation remained high.
Output rebounded in Q3. The net exports component was a large contributor to growth, while residential investment, spending on structures, and inventories were all drags. Consumer spending grew modestly
- Real disposable income was unchanged.
The level remained well below its trend growth path.
Real consumer spending was up over the month.
The personal saving rate was at a low level.
- Housing starts and home sales fell.
- The growth of payroll employment slowed to a still solid pace, while the unemployment rate rose. The growth of hourly earnings over the year slowed.
- Core PCE inflation over the year moved higher.
We post accompanying data for the charts, if permitted, with the intent to expand the series to the fullest extent possible.
Read more about the launch of the series: Just Released: U.S. Economy in a Snapshot
, Liberty Street Economics
, June 2015
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