The U.S. Bureau of Economic Analysis (BEA) reported Friday that Q1 2022 GDP dropped 1.4 percent and the Q4 2021 GDP was revised to 6.9 percent. Analyst’s pre-report expectations were for a growth of 1 percent.
The drop in GDP comes after the March consumer price index was up 1.2 percent in March over February, and 8.5 percent over March 2021. High inflation and negative growth is the definition of stagflation. The question is, how long will it last and will there be a recession? By definition a recession is two consecutive quarters of negative GDP. While the Q1 GDP numbers were not a positive development by any means, there are some signs that the stagnation in the economy might be “transitory” – to...
What You Need to Know Today: Markets got a surprise with a corn yield of 181.2 bushels/acre in the October WASDE, above the average estimate of 177.6 bushels/acre and up from USDA’s September estimate of 178.5 bushels/acre. Although stronger demand is expected to absorb some of the addit...
Key Takeaways: On Friday afternoon, President Trump announced that Russia will “immediately supply over 300,000 Tons of Diesel Fuel” to the United States. The deal, typical of this administration, is light on details but promises an additional 500,000 tons in November and 1 m...
The USDA has lowered its 2026 red meat production forecasts slightly while forecasting a slight increase in broiler production. Beef is now projected at 24.802 billion pounds, 75 million pounds less than in September. Cow slaughter is expected to be up; however, this will be offset by lower ste...
