Download the March 2023 Snapshot
- GDP growth was strong in Q4.
Consumption and inventories were substantial contributors to growth. Residential investment spending was a large drag on growth, while private nonresidential investment spending was flat.
- Consumer spending rose in January, after stalling in November and December.
Real disposable income jumped in January, helped by the inflation adjustment to social security and tax brackets. Manufacturing activity rose in January. January housing starts were down sharply over the year.
- Payroll growth was solid in February. The unemployment rate rose from a very low level. The increase in hourly earnings, measured over the year, moved higher in February, but was still below the rate recorded in December.
- Core PCE inflation over the year ticked up in January. Housing inflation remained high. Food inflation moderated, but prices were up substantially relative to pre-pandemic levels.
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.
2023 Release Dates
*Released at or shortly after 12 p.m.