A pretty, pretty good economy (for some)
Marketplace
Marketplace
4.6 • 8.5K Ratings
🗓️ 26 July 2024
⏱️ 27 minutes
🧾️ Download transcript
Summary
The good news? The Commerce Department says personal income and consumption were up in June. Bad news is savings didn’t rise with ’em. In fact, high interest rates and high prices have battered the personal savings rate down to an almost two-year low, leaving many households without a financial security cushion. In this episode, we’ll also get into why national manufacturing growth depends on where you are, and Boston is incentivizing office to residential real estate conversions.
Transcript
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| 0:59.0 | You want data? We got data and we got seven minutes to talk about it too so stick |
| 1:07.0 | around from American public media. This is market class. In Los Angeles, I'm Kari Rizdahl. It is Friday to day 26 July. I do believe it as always |
| 1:27.4 | to have you along everybody. The data this week came with a variety of initialisms, |
| 1:32.4 | attached GDP for gross domestic |
| 1:35.0 | product of the course PCE as well for the personal consumption |
| 1:38.8 | expenditures index the feds go to inflation gauge here to help us gauge what it all means. |
| 1:44.8 | Arneila Richardson, she's at ADP, Kate Davidson is at Bloomberg. |
| 1:48.0 | Hey you two. |
| 1:49.0 | Hey, Kay. |
| 1:50.0 | Hi, Kay. |
| 1:51.0 | So Kate, we will begin with you and the data gross domestic product growing in the second quarter at 2.8% annualized, better than people had been expecting. |
| 2:00.0 | PCE and this morning, the Fed's preferred inflation gauge at the headline level 2.2.5% |
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