Hear that boom? It’s the economy.
Marketplace All-in-One
Marketplace
4.5 • 1.4K Ratings
🗓️ 26 October 2023
⏱️ 31 minutes
🧾️ Download transcript
Summary
Gross domestic product expanded at a 4.9% rate in the third quarter, driven by a consumer who couldn’t pass up high-priced concert tickets and big-ticket durable goods. But is that torrid pace sustainable? We’ll also examine why companies are holding on tight to their workers and how Buy American rules can complicate infrastructure buildouts.
Transcript
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| 1:32.0 | Three letters today about the American macroeconomy. |
| 1:37.0 | And he guesses? From American public media. This is Marketplace. |
| 1:51.0 | In Los Angeles, I'm Kai. Rizdal, it is Thursday. Today, the 26th of October. It is always to have you along, everybody. |
| 2:00.0 | So you take everything we produce in this economy, all the goods, the stuff, right? The lawn furniture and the cars and the water heaters. |
| 2:08.0 | And you take all the services, all the travel companies and consulting businesses and landscapers, your role, all of that in together. |
| 2:16.0 | And you get something called gross domestic product, GDP, the three letters to which I referred. |
| 2:22.0 | That is a tad oversimplified that definition, but it's close. And we lead with it today because GDP, the closest proxy we really have for the entire economy, grew at an annualized rate of 4.9% in the third quarter. |
| 2:36.0 | So said the Commerce Department this morning. And 4.9% just to be clear is a lot. |
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