Index Investing News
Sunday, May 25, 2025
No Result
View All Result
  • Login
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion
No Result
View All Result
Index Investing News
No Result
View All Result

The 2023 U.S. economy, in charts

by Index Investing News
January 8, 2024
in Property
Reading Time: 3 mins read
A A
0
Home Property
Share on FacebookShare on Twitter


A pedestrian holds an umbrella as they walk along a street in the rain in Times Square, New York, on Sept. 26, 2023.

Ed Jones | AFP | Getty Images

The state of the U.S. economy may be a chief concern among Americans, but 2023 wound up as a pretty good year for the macroenvironment.

Spending remained high, markets posted big gains and the Federal Reserve’s battle against inflation showed signs of cooling — without freezing. Then there’s the almost logic-defying resilience of the job market.

The U.S. labor market ended the year strong, creating more than 200,000 jobs in December, according to figures released Friday by the U.S. Bureau of Labor Statistics. While previous job creation estimates for October and November were revised downward by a combined 75,000, the unemployment rate remained at a low 3.7%, and December marked the 36th consecutive month of job creation for the U.S. economy.

In total, the U.S. created nearly 2.7 million jobs in 2023, when seasonally adjusted. That figure came despite concerns that the Federal Reserve’s ongoing fight against inflation through interest rate hikes might cool the labor market and put a chill on consumer spending.

Neither of those concerns came to fruition, however. In fact, consumer spending remained robust throughout the year, with monthly advanced retail sales staying above the $600 million mark for most of 2023, proving that despite many economic headwinds, U.S. consumers could not be deterred.

Here are nine other charts that show how the economy rounded out 2023.

Inflation, wages and spending

While inflation continues to be top of mind for U.S. consumers, the rate of inflation cooled significantly in 2023. Meanwhile, wages rose throughout the year, eventually outpacing price increases.

U.S. consumers were in a mood to spend, particularly on experiences: 2023 was officially the year that travel rebounded, with the Thanksgiving holiday period breaking U.S. records. Nearly 150 million passengers were screened by the Transportation Security Administration across U.S. airports in November and December.

Americans spent on entertainment, too. With major hits such as “Barbie,” “Oppenheimer” and Taylor Swift’s The Eras Tour concert film, the U.S. box office came back in a big way last year from its Covid-19 pandemic lows.

Markets

Even assets such as crypto saw a rebound in 2023 after hitting a low in November of the previous year. Bitcoin prices ended the year at almost three times that previous low.

Interest rates and housing

After its historic rate increases in 2022, the Federal Reserve tempered its war on inflation and only raised rates at four of its eight meetings in 2023. While the central bank’s target range for interest rates is the highest it has been since 2006, recent comments from Chair Jerome Powell have Fed watchers optimistic that rate cuts may be coming in 2024.

There were some trouble areas for consumers, however. Mortgage rates continue to be high. The average 30-year fixed rate in October was nearly triple what it was at the end of 2020 — although rates came down significantly by the end of the year — and existing home sales remain low, according to data from the National Association of Realtors. Until more housing inventory comes online, those issues are likely to persist into 2024.

Don’t miss these stories from CNBC PRO:



Source link

Tags: chartsEconomy
ShareTweetShareShare
Previous Post

What to Watch For By U.Today

Next Post

Earnings week ahead: Citigroup, JPMorgan, UnitedHealth, Delta Airlines and more

Related Posts

WA renters, landlords put together for brand new cap on lease hikes

WA renters, landlords put together for brand new cap on lease hikes

by Index Investing News
May 24, 2025
0

A monumental change hit Washington’s rental market this month, one within the works for years: caps on lease hikes.However what...

Magnificent Spanish Mediterranean Property within the Coronary heart of Denver

Magnificent Spanish Mediterranean Property within the Coronary heart of Denver

by Index Investing News
May 24, 2025
0

6 Ivy Lane, within the Outdated Crestmoor neighborhood, is well recognizable by its iconic blue tile roof and Spanish Mediterranean...

New-home gross sales climb practically 11%, however figures could also be ‘overestimated’

New-home gross sales climb practically 11%, however figures could also be ‘overestimated’

by Index Investing News
May 23, 2025
0

Gross sales of newly constructed single-family houses rose in April, pointing to continued purchaser engagement through the spring homebuying season,...

Goodyear to Promote A part of Chemical Enterprise for 0M

Goodyear to Promote A part of Chemical Enterprise for $650M

by Index Investing News
May 24, 2025
0

This 640,000-square-foot property situated in Akron, Ohio, serves as Goodyear’s headquarters. Picture courtesy of Goodyear Goodyear will promote nearly all...

Seattle’s solely homeless RV car parking zone makes approach for pickleball advanced

Seattle’s solely homeless RV car parking zone makes approach for pickleball advanced

by Index Investing News
May 23, 2025
0

The Seattle Instances’ Venture Homeless is supported by Campion Basis, Raikes Basis and Seattle Basis. The Seattle Instances maintains editorial...

Next Post
Earnings week ahead: Citigroup, JPMorgan, UnitedHealth, Delta Airlines and more

Earnings week ahead: Citigroup, JPMorgan, UnitedHealth, Delta Airlines and more

Harrell wants to revise Fort Lawton housing plan by adding units

Harrell wants to revise Fort Lawton housing plan by adding units

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED

A Spike In Supply Could Tank Multifamily Prices This Year

A Spike In Supply Could Tank Multifamily Prices This Year

March 29, 2023
Escaping the Corporate Rat Race and Property Management Q&As

Escaping the Corporate Rat Race and Property Management Q&As

January 28, 2023
Mawari CEO: AI Coin Craze Normalizes AI Brokers

Mawari CEO: AI Coin Craze Normalizes AI Brokers

March 9, 2025
Honeywell: The Aerospace, Automation & Renewable Vitality Tendencies Ought to Unlock Progress (HON)

Honeywell: The Aerospace, Automation & Renewable Vitality Tendencies Ought to Unlock Progress (HON)

July 18, 2024
US, UK enter agreement to develop AI safety standards

US, UK enter agreement to develop AI safety standards

April 3, 2024
Allyson Felix: US track-and-field star to retire after 2022 season

Allyson Felix: US track-and-field star to retire after 2022 season

April 14, 2022
Report – Economics Bitcoin News

Report – Economics Bitcoin News

October 23, 2022
Andre Onana sends warning to Harry Maguire after pre-season rant

Andre Onana sends warning to Harry Maguire after pre-season rant

August 1, 2023
Index Investing News

Get the latest news and follow the coverage of Investing, World News, Stocks, Market Analysis, Business & Financial News, and more from the top trusted sources.

  • 1717575246.7
  • Browse the latest news about investing and more
  • Contact us
  • Cookie Privacy Policy
  • Disclaimer
  • DMCA
  • Privacy Policy
  • Terms and Conditions
  • xtw18387b488

Copyright © 2022 - Index Investing News.
Index Investing News is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion

Copyright © 2022 - Index Investing News.
Index Investing News is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In